Britain very close to Brexit transition deal with the European Union: minister

Britain very close to Brexit transition deal with the European Union: minister

The EU has told the financial sector to prepare for a smooth or hard Brexit, even if the bloc's aim is to obtain a good trade agreement with Britain, he added.

"Even though in the last fourteen months there has been a succession of speeches outlining the United Kingdom view on the future of our relations, we still need more concrete and more operational proposals", said Monika Panayotova on Tuesday, representing the Bulgarian presidency of the Council of the EU.

Chuka Umunna, a prominent lawmaker in the opposition Labour Party who is advocating Britain remaining part of the tariff-free single market and customs union, said Fox's remarks were nothing more than "playground speak".

'I would rather have preferred Britain not to have made a decision to leave the European Union, but anyone who leaves the European Union has to know, frankly, what this means, ' he said.

Speaking on the same occasion, the head of the bloc's executive European Commission, Jean-Claude Juncker, also reminded London there was no time to waste before Britain leaves the bloc, as is due in March 2019.

One shouted at him: 'It's a British issue'.

"Does Britain also want to leave that model and go toward regulatory competition-call it dumping-against us", he asked legislators at the European Parliament in Strasbourg, France.

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The UK had no need to be "shocked", he said, that Brussels was holding the British government to its commitments made in a joint report with the commission last December to otherwise keep Northern Ireland in lock step with European Union law, as the status quo would not last beyond Brexit day on 29 March 2019.

The Prime Minister issued a five-point ultimatum to Brussels to ensure Britain gets the Brexit deal the country voted for in the European Union referendum.

"There are great prizes for our economy as we leave the European Union in this era of globalization if we have the courage to grasp them", he said.

A spokeswoman for US President Donald Trump refused to blame Russian Federation for an attack on what she called Washington's "closest ally" but Secretary of State Rex Tillerson said he was confident in May's assessment of Moscow's role and promised that there should be "serious consequences".

His European Parliament motion calls for an "association agreement" to deal with the future UK-EU relationship.

"Ms May, we did not vote for a transition period, we voted to leave this organisation, we voted to leave the customs union, we voted to leave the single market", he said.

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