Brexit deal chances are "60 to 40"; Liam Fox blames EC intransigence

Brexit deal chances are

The pound on Monday fell to its lowest in almost three weeks, succumbing to a stronger dollar and comments by officials suggesting Britain could crash out of the European Union next year without securing a trade deal.

But Mrs May insisted a deal is still the "most likely outcome".

"But the worldwide trade secretary is right to say there is a risk of the negotiations not succeeding and the government has to prepare for all eventualities".

The benchmark FTSE 100 was down 17 points or 0.22 percent at 7,642 in late opening deals after rallying 1.1 percent on Friday.

He said Mr Barnier had dismissed the UK's proposals in the Chequers plan thrashed out by Theresa May and the Cabinet simply because "we have never done it before".

Mr. Fox told the paper that he had not thought the likelihood of no-deal was higher than 50-50, but the risk had increased.

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May's office said in an emailed statement Sunday that while the government is "confident" of securing a deal, "it is the job of a responsible government to prepare for all scenarios".

As the clock ticks down, British Prime Minister Theresa May's Conservative government remains split over how close an economic relationship it should seek with EU.

The Foreign Secretary Jeremy Hunt has expressed less optimism, suggesting that it is possible that no deal could prevail "by accident", if negotiations collapse.

"It's up to the EU27 to determine whether they want the EU Commission's ideological purity to be maintained at the expense of their real economies", he warned.

May met with French President Emmanuel Macron on the Mediterranean coast on Friday to lobby for her Brexit plan, which has divided her government and so far failed to win over European Union negotiators. After she finally devised a plan for the post-Brexit economic partnership with the European Union last month, Europe's lead negotiator, Michel Barnier, pushed back against its centerpiece - a proposal for Britain to collect tariffs at European Union rates at its borders to maintain a "frictionless" boundary with the bloc.

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