'˜UK is five times as exposed to Brexit'¨risk as EU'

A senior adviser to EU chief negotiator Michel Barnier warned that Britain could not pursue 'sector-by-sector' participation in the European single market.

Prime Minister Theresa May. Photo credit: Philip Toscano/PA Wire

Stefaan De Rynck also rejected a “buffet-style” transition away from EU membership “where one picks and chooses the bits one likes”.

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Mr Barnier insists Britain will not be able to “cherry-pick” trading models. He said: “We won’t mix up the various scenarios to create a specific one and accommodate their wishes, mixing, for instance, the advantages of the Norwegian model, member of the single market, with the simple requirements of the Canadian one. No way. They have to face the consequences.”