European Union leaders suggest United Kingdom can still reverse Brexit

Eurozone crisis after Brexit

GETTY Eurozone will face'genuine shocks after Brexit an economist has warned

Hammond told Welt Am Sonntag in Germany that Britain's economy should maintain a "European approach" after Brexit, hinting at a minimum of economic divergence with the EU.

Ian Murray, Labour MP and supporter of anti-hard Brexit group Open Britain, today said Tusk's comments have put more pressure on Theresa May to publish legal advice the government has received regarding Article 50.

Then in December 2017, it announced that it had reached an agreement with the European Commission on citizens' rights, under which EU citizens who arrive in the United Kingdom by 29 March 2019 will be entitled to apply for "settled status" when they have five years' continuous residence in the UK.

Government officials would not be drawn on the UK's negotiating objectives for the transition period, but a DIT spokeswoman said: "The government is committed to securing continuity in its current trade and investment relationships, including those covered by our membership of the European Union, so we can provide certainty and stability for our businesses, consumers, and trading partners".

Tusk recalled the words of the UK Brexit secretary, David Davis, who said in 2013 that "if a democracy can not change its mind, it ceases to be a democracy".

"... We would be in a different space about how you respond to a changing global context where movement of people - a massive worldwide refugee crisis - Europe collectively needs to develop new and radical answers to that".

Hammond told German weekly Welt am Sonntag in an interview published Saturday that those hoping London might do a U-turn on Brexit should "stop harking on about this illusion". "Our hearts are still open for you".

European central bank
GETTY ECB bosses have continued to offer gloomy outlooks for the UK post-Brexit

Whilst May said that the new blue passports would be an expression of "independence and sovereignty" that reflected "citizenship of a proud, great nation", Manfred Weber described the change as a "scam".

Guy Verhofstadt, the chamber's Brexit coordinator, called the passport saga "hilarious" and also derided May and her ministers for claiming credit for new laws curbing plastic bag use and credit card fees, when these were in fact European Union legislation.

The poll also found overwhelming support for a second referendum among Labour voters, with 74% calling for a new vote if May fails to win a deal.

Per Sandberg, the Norwegian fisheries minister, said he expected talks between the EU, UK and Norway over fishing rights to be complex, and likely to conclude at the end of a transition period.

Negotiations on the transition period are due to start at the end of January once the European Union has finalized its position. "We must do what's best for Britain and our people." .

Germany would be most exposed to a supply chain shock, as its firms account for about one in 10 of all goods used by European companies in their production processes, rising to as much as 18% in the motor industry - which is the EU's largest export to the UK.

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