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EU’s Barnier warns risk still exists of Brexit 'cliff edge' at year's-end

EU’s Barnier warns risk still exists of Brexit 'cliff edge' at year's-end

The European Union’s chief Brexit negotiator said on Monday that businesses still face the risk of a "cliff edge" Brexit at the end of the year, given the short time available to negotiate a future trading relationship between Britain and the EU.

“This negotiation is not usual because at the end of this year, the UK is leaving the single market, it is its choice, it is leaving the customs union,” Michel Barnier told a joint news conference with Irish Prime Minister Leo Varadkar.

“If we have no agreement, it will not be business as usual and the status quo, we have to face the risk of a cliff edge, in particular for trade,” Reuters quoted Barnier as saying.