Brexit deal agreed as EU leaders endorse Boris Johnson's plan

Leaders of 27 EU countries have formally endorsed the new Brexit agreement with the UK, according to a spokesman for the European Council President Donald Tusk.

A readout of the Council meeting says the European Commission, the European Parliament, and the Council should now take necessary steps to ensure the agreement can come into force on November 1.

The Council's draft conclusions, seen by CNN, made no mention of whether leaders would support a potential extension should the deal fail to pass the British Parliament on Saturday.

Keir Starmer, Labour's shadow Brexit secretary, has posted a lengthy thread on Twitter giving his reaction to Boris Johnson's Brexit deal.

He is predictably critical of the pact, saying it is "far worse deal than Theresa May’s deal."

Starmer adds that the "political direction of travel under Johnson is to a distant economic relationship with the EU."

"This inevitably means there will be new trade barriers with the EU and additional checks at borders. The PD (Political Declaration) is explicit about this. And the Johnson deal makes it easier for a Tory Government to cut rights and standards," he goes on.

Then, Starmer indicates that the Labour Party could be open to attaching a second referendum onto Johnson's deal when it faces a vote in Parliament on Saturday.

This is a crucial point, because while Labour's leader Jeremy Corbyn backs a second referendum on a Brexit deal, he hasn't confirmed today whether the party will be supporting such an amendment on Johnson's deal this weekend, should it be tabled.

But Starmer's final tweet suggests that some in the party's leadership could indeed stomach a "Johnson's deal vs Remain" referendum.

German Chancellor Angela Merkel and French President Emmanuel Macron appeared in high spirits on arriving at the EU Council summit in Brussels Thursday.

As well they might. After months of negotiations, EU and UK teams have now agreed on a withdrawal plan.

Merkel and her counterpart Macron were upbeat about the deal's prospects of succeeding in the European and British parliaments.

Macron added that it was now up to Boris Johnson to pass the deal through Westminster. "We have a good indication that he’s reasonably optimistic about that,” he said. 

What of the European Research Group, that bloc of hardline Euroskeptics in the UK House of Commons who resolutely opposed Theresa May's withdrawal agreement, but whose support Boris Johnson now needs if he is to pass his new Brexit deal on Saturday?

Previously, the ERG tended to take its cues from the Democratic Unionist Party, which earlier today said it would vote against the deal. But Johnson's team in Downing Street has been assiduously courting the ERG, and appears to have prised them away from the DUP.

Steve Baker, leader of the ERG, wrote just now on Twitter that while the group had "limited remaining concerns," if they are dealt with, it will support the subsequent legislation required to implement the deal.

An agreed Brexit plan is on the table. But there's still some way to go before it becomes a signed-off deal.

In Northern Ireland, politicians in the small but influential Democratic Unionist Party are deeply unhappy with the deal, because it envisages different economic arrangements for the region than the rest of the UK.

It's a different story on the sothern side of the border, where Irish Prime Minister Leo Varadkar has urged EU lawmakers to get behind the plan. He told reporters as he arrived at the EU summit:

The UK has until midnight on Saturday to pass a Brexit deal or it will crash out of Europe 12 days later, on October 31.

Our reporters are live in Brussels. What questions do you have for them?

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Well that was short lived.

The pound's early rally against the dollar has petered out as initial optimism over a Brexit deal fades.

Earlier today it had jumped 1% as news of a Brexit deal emerged. Investors are concerned that the deal will struggle to be approved in the UK Parliament.

As Brexit negotiations looked set for a breakthrough earlier this week, the pound in turn also enjoyed a strong showing.

Over the last seven days it rose from $1.22 to a high of $1.29.

Jean-Claude Juncker, President of the European Commission, has been telling reporters that there should be no extension to the Brexit process beyond October 31.

Why that's important: When Prime Minister Boris Johnson tries to persuade lawmakers to back his Brexit deal on Saturday, it's very helpful indeed if he can paint the choice as being one between leaving on October 31 with a deal, or crashing out without one. UK lawmakers thought they'd prevented a no-deal Brexit by passing legislation that forces Johnson to ask for an extension by Saturday October 19 if a Brexit deal wasn't agreed. But if they think the EU might turn down any request for an extension, that could concentrate minds.

But, but, but: The question of an extension is not within Juncker's gift. Only leaders of the 27 remaining EU countries can decide that. And Juncker was very careful in his choice of words – he said there was "no need" for an extension, which is not quite the same thing as saying the EU would reject a request for an extension if one was forthcoming.

British Prime Minister Boris Johnson and EU Commission President Jean-Claude Juncker praised their agreed withdrawal deal on Thursday, urging parliaments on both sides of the Channel to help get it over the line.

Johnson said:

Now that the deal has been drafted it will be down to lawmakers in Westminster and Brussels to have the final say.

"This deal provides certainty, where Brexit creates uncertainty," said Juncker. He added that "the deal is not about us -- the deal is about people and peace."

If the deal is approved by October 31, both sides will start work on it's implementation the following day on November 1, "without interruption." said Juncker.

The leaders had warm words for each other, Juncker thanking Johnson for his "excellent relations." And Johnson said: "We are solid European, neighbors, friends and supporters."

The brief statement was followed by a flurry of questions from reporters -- none of them addressed -- before Juncker held up his hands and offered his final thought.