'We have one!': Britain and the EU agree to 'great' Brexit deal

Britain and the European Union have agreed to a Brexit deal.

However, it must still be formally approved by the bloc and ratified by the European and UK Parliaments.

Hours before a summit of all 28 EU national leaders, European Commission President Jean-Claude Juncker tweeted: “We have one! It’s a fair and balanced agreement for the EU and the UK and it is testament to our commitment to find solutions.”

British Prime Minister Boris Johnson tweeted that the two sides had struck a “great new deal” and urged UK lawmakers to ratify it in a special session on Saturday.

Immediately complicating matters was Mr Johnson’s Northern Irish government allies which didn’t waste a minute to say they could not back the outline deal because of provisions for the Irish border.

Prime Minister Boris Johnson stepping out of 10 Downing Street, London.
Prime Minister Boris Johnson says both the UK and the European Union have struck a 'great deal'. Source: AAP

The prime minister needs all the support he can get to push any deal past a deeply divided Parliament and will surely temper jubilation at the EU summit. The UK parliament already rejected a previous deal three times.

Technical negotiators struggled longest to fine tune customs and sales tax regulations that will have to manage trade in goods between the Northern Ireland and Ireland — where the UK and the EU share their only land border.

After months of gloom over the stalled Brexit process, European leaders have sounded upbeat this week.

French President Emmanuel Macron said Wednesday (local time) that he wants “to believe that a deal is being finalised.”

German Chancellor Angela Merkel said negotiations were “in the final stretch.”

Thousands of Leave supporters gathered in Parliament Square to protest against the delay to Brexit, on the day the UK had been due to leave the EU.
Leave supporters gather in Parliament Square in March. Source: Getty Images

They were proven right on Thursday.

Upon the news, the pound hit a five-month high upon the US dollar.

Mr Johnson — who took office in July vowing Britain would finally leave the EU on October 31— likened Brexit to climbing Mount Everest.

He will have to climb some more to get the Northern Ireland’s Democratic Unionist Party on board.

DUP leader Arlene Foster and the party’s parliamentary chief Nigel Dodds said they “could not support what is being suggested on customs and consent issues,” referring to a say the Northern Irish authorities might have in future developments.

The party said the position was unchanged after the announcement of the provisional deal.

Both the customs and consent arrangements are key to guaranteeing an open border between the UK’s Northern Ireland and EU member Ireland — the main obstacle to a Brexit deal.

Liberal Democrats leadership contender Sir Ed Davey joins tens of thousands of pro-European protesters in London.
Protestors march to remain in the EU in London. Source: Getty Images

Do you have a story tip? Email: newsroomau@yahoonews.com.

You can also follow us on Facebook and Twitter, download the Yahoo News app from the App Store or Google Play and stay up to date with the latest news with Yahoo’s daily newsletter. Sign up here.