EU negotiator issues Brexit 'cliff edge' warning

The European Union's Brexit negotiator warned on Monday that Britain continues to face the risk of a "cliff-edge" departure from the bloc, if negotiations on a trade agreement don't result in an agreement. Michel Barnier made the remarks as he visited Dublin in a show of solidarity with Ireland, five days before the U.K. is due to leave the EU.

He said Brexit meant that Britain was pulling out of 600 international agreements on trade and other issues. Everything would need to be renegotiated, Barnier said. "If we have no agreement, it will not be business as usual and just the status quo," he warned. "We have to face the risk of a cliff edge, in particular for trade."

Britain's exit on Friday, the first time a nation has left the bloc, will be followed by an 11-month transition period. During that time Britain will continue to follow EU rules while the two sides work out new deals on trade, security and other areas.