EU's von der Leyen: Not enough time for a full new EU-UK partnership deal by end 2020

There is not enough time to complete a full new partnership deal between Britain and the European Union by the end of 2020, European Commission President Ursula von der Leyen said in her prepared speech titled 'Old Friends, New Beginnings: building another future for the EU-UK partnership.'

The GBP/USD pair doesn't seem to be paying any mind to von der Leyen's remarks. As of writing, the pair was virtually unchanged on the day at 1.3120. Below are some additional takeaways, per Reuters.

"Britain's good access to EU single market depends on keeping level playing field on taxation, environment, labour and state aid standards."

"EU and Britain will have to prioritise what they want agreeing by end 2020 if there is no extension for negotiating time."

"EU will prioritise the integrity of its single market and customs union."

"EU wants the new partnership to be zero tariffs, zero quotas, zero dumping."

"EU-British partnership must include comprehensive security partnership to fight cross-border threats."