'Ireland first' in all negotiations between United Kingdom and European Union, insists Tusk

Ford calls for Brexit clarity to help it make UK investment decision- Report

People in Northern Ireland who have Irish citizenship will all also remain European Union citizens after Brexit.

"I fully respect the Chancellor's competence in defining what is in the UK's interest but he must allow us to define what is in the EU's interest", he said.

Britain would be free to impose some new sanctions, for example denying entry to Russian individuals, but would be very limited in its ability to, say, bar more Russian imports as European Union trade policy is centralised in Brussels and will remain so, probably, for a couple years after Brexit in March 2019.

Britain has said it expects the transition period to last around two years after its departure date, although the European Union has said it should end earlier, on December 31, 2020.

Jean-Claude Juncker was speaking during a debate on Brexit in the European Parliament this morning ahead of a vote on future UK EU relations tomorrow.

Goldman Sachs and UBS said last week they were starting to transfer some bankers to Frankfurt in preparation for the U.K.'s exit from the EU.

European Union chief Jean-Claude Juncker warned that Britain will "regret" Brexit today as he drew battle lines for trade negotiations.

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On a visit to Dublin, EU Council President Donald Tusk, who coordinates policy between the 27 EU nations that Britain is negotiating with, said it's up to May's government to propose a "specific and realistic solution" to avoid a hard border and that without a solution it is "very difficult to imagine substantive progress".

And the former Luxembourg PM warned London the European Union institutions and member states stood squarely in support of Ireland on the issue.

The bloc has repeatedly dismissed such an idea as "cherry-picking" and European Union chief Brexit negotiator Michel Barnier once again rejected on Tuesday.

If the United Kingdom stays in a form of customs union that would reduce the costs for both sides by about half, the report said.

"After Brexit there is a big discontinuity in all the trade and services, but we still have a large market and it's supposed to be an interesting opportunity for all the financial institutions", Katainen said.

"It is not crystal clear how a potential exclusion process will function", European Commision Vice President Jyrki Katainen told a news conference, saying he had discussed the issue with France and Japan.

Delivering a damning verdict on May's speech, the Parliament's Brexit coordinator Guy Verhofstadt said, "It is mainly repeating the red lines that we know already two years".

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