UK and EU negotiators have agreed a Brexit deal

Michel Barnier Theresa May Jack Taylor/Getty Images

Theresa May is set to put a Brexit deal to her Cabinet on Wednesday after UK and EU negotiating teams broke the impasse in talks.
Agreement on preventing a hard Irish border was reached two days of intensive talks.
Senior EU and UK sources tell BI there will be an emergency cabinet meeting on Wednesday afternoon.
May's government is braced for possible resignations.

LONDON — UK and EU negotiating teams have agreed on a Brexit deal which Theresa May will present to her Cabinet on Wednesday, senior UK and EU sources have confirmed to Business Insider.

A Cabinet source told BI that ministers are being briefed this evening ahead of an emergency Cabinet meeting on Wednesday afternoon.

Agreement between the UK and EU over how to prevent a hard-border with Northern Ireland over Brexit was reached during intensive negotiations held on Monday and Tuesday, sources told BI.

The negotiating teams agreed that there will be a UK-wide Brexit "backstop" if Britain fails to agree a comprehensive trading deal before the end of the two-year Brexit transition period.

The deal is set to include a UK-wide customs union backstop with Northern Ireland that would effectively keep Britain in parts of the single market.

Crucially the plan will not have a fixed end-date, as demanded by pro-Brexit MPs, but will have a "review clause" for deciding when it can end.

The pound rose 1.4% against the dollar on the news on Tuesday.

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