EU leaders are expected to announce plans for an extraordinary Brexit summit in November after the bloc’s chief Brexit negotiator said a Withdrawal Treaty could potentially be agreed within two months.

The Sterling rose slightly in value this morning after Michel Barnier claimed that a treaty could be agreed "within six or eight weeks" if both sides are "realistic."

The Guardian reports that EU leaders will announce the special gathering next week.

However, leaders will insist that in order for the gathering to take place, a legally operable backstop solution on the Irish border must be agreed and finalised at the already scheduled Summit of leaders in October.

The November gathering will then be used to finalise details of the UKs future relationship with the EU.

"Realistic"

Speaking at an economic forum in Slovenia yesterday, Mr Barnier said he believed the Withdrawal Agreement could be finalised within that timeframe.

“I think that if we are realistic we are able to reach an agreement on the first stage of the negotiation, which is the Brexit treaty, within six or eight weeks,” he said.

“Taking account the time necessary for the ratification process, the House of Commons on one side and the European Parliament and Council on the other side.

“We need, we must reach an agreement before the beginning of November.

“I think it's possible.”

Chequers

The UK Cabinet’s Chequers plan for future trading with the EU has face stiff opposition in Westminster and in Brussels.

Some 80 Tory MPs have signalled that they would be willing to vote against the plan in the House of Commons – while Mr Barnier has warned that he is "strongly opposed" to key parts of the plan.

EU 27 leaders are expected to instruct Mr Barnier to work with the best of the parts of the proposals in an effort to reach agreement.

With reporting from IRN ...