BRUSSELS, Oct. 17 -- The European Union (EU) and Britain have reached a new Brexit deal, Jean-Claude Juncker, president of the European Commission, said Thursday on his twitter account.

"Where there is a will, there is a #deal we have one! It's a fair and balanced agreement for the EU and the UK and it is a testament to our commitment to find solutions," said Juncker hours before Thursday's EU summit.

"We now have a newly agreed Protocol that protects peace and stability on the island of Ireland and fully protects our Single Market. I hope that we can now bring this over the line and provide the certainty our citizens and businesses so deserve," he noted in a press release published by the Commission on its website.

Michel Barnier, the European Commission's chief negotiator, hailed the deal as "all-win".

"We had difficult discussions over the past days. We have managed to find solutions that fully respect the integrity of the Single Market. We created a new and legally operative solution to avoid a hard border, and protect peace and stability on the island of Ireland. It is a solution that works for the EU, for the UK and for people and businesses in Northern Ireland," said Barnier in the press release.

On thorny issues like the Irish border, which is the main obstacle for the two negotiating teams, the new deal offers new measures.

First, Northern Ireland will remain aligned to a limited set of EU rules, particularly related to goods.

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