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BRUSSELS – Latest news on Britain's upcoming exit from the European Union (local time):
7:15 p.m.
The chief negotiator of the European Union for Brexit said that the EU and the British government needed "a lot more time" to reach a divorce agreement.
Michel Barnier said when he arrived in Brussels for a European summit Wednesday that the two sides had worked hard "but we are not there yet."
The weekend talks aimed to secure an agreement on Brexit before the summit could dispel the main problem: how to ensure that goods and people move freely across the Irish-Northern Ireland border after the Great Britain left the EU
This sabotaged the hope that Wednesday's summit would see a breakthrough.
Barnier said: "We need a lot more time and we will continue to work in the coming weeks, calmly and patiently."
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6:10 p.m.
The Lithuanian President said that Britain had not really been able to explain how she wanted to leave the European Union and that she thought domestic politics was to blame.
President Dalia Grybauskaite said Wednesday at the meeting of the British Prime Minister and EU leaders on the occasion of a summit on Brexit in Brussels: "Today We do not know what they want – they do not know for themselves what they really want, that's the problem. "
Grybauskaite insisted that the delay before Britain's planned withdrawal date of 29 March was a more serious problem for the departing party than for the EU.
The Lithuanian foreign minister said that the impending deadline would not make the EU more likely to compromise on the conditions for leaving Britain.
Grybauskaite said: "We have taken action. We must finally know what the other party wants. It's always a big secret. "
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5:55 p.m.
British Prime Minister Theresa May believes that an agreement on Brexit can be sealed "over the next few days and weeks" thanks to the hard work of the United Kingdom and the European Union.
Before addressing her 27 EU counterparts at a summit dinner in Brussels, Ms May said that "most of the problems" with a withdrawal agreement have been resolved, although there is a gap on the question of the Irish border.
She said that "everyone around the table" wanted an agreement for an orderly withdrawal and "by working intensely over the next few days and weeks, I think we can reach an agreement."
The hopes of a breakthrough at the top of this week were disappointed over the weekend when negotiators failed to agree on conditions.
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4:15 p.m.
The Governor of the Bank of England, Mark Carney, confirmed that the bank will publish an analysis of the economic impact of any Brexit deal between the government and the European Union.
In a letter to Nicky Morgan, who heads the Treasury's parliamentary committee, Carney said the bank would release its analysis "in due time" before any parliamentary vote. He added that he would also publish his economic analysis of the situation in Britain if it headed for a sudden exit next March, without agreement on future relations or transition.
May is in Brussels for a summit of European leaders and to try to break the stalemate on Brexit.
Since the vote on the Brexit in June 2016, the Bank of England has based itself on the assumption that Britain's exit from the European Union would be smooth, but with negative economic consequences.
Last month, Carney confirmed that he had warned Cabinet of the worst possible scenario if Britain collapsed without agreement or transition. According to reports, he warned that the price of houses could fall by a third.
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1:50 p.m.
The Irish Foreign Minister has stated that the European Union is willing to extend Britain's post-Brexit transition period in order to find a permanent solution to the Irish border problem.
According to the current proposals, Britain will remain in the EU rules from the moment it leaves the block, in March, until December 2020, to allow time for new trade relations .
Many suspect that this is not enough time, which has led the EU to demand a "backstop" to ensure the absence of customs posts or other controls along the border between Northern Ireland and the United Kingdom, members of the EU. Disagreement over the safety net paralyzed divorce negotiations.
Irish Foreign Minister Simon Coveney said on Wednesday that EU chief negotiator Michel Barnier had suggested "more time in the transition period to agree on an alternative solution to the backstop ".
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1:50 p.m.
German Chancellor Angela Merkel said that she still thought that it was possible to conclude a "good" agreement with Britain before its withdrawal from the European Union in March, while stressing that Germany was also preparing for the risk of a departure without agreement.
Ms Merkel spoke to the German parliament on Wednesday before the EU summit during which there seems to be little chance of a breakthrough on Brexit.
Merkel said: "The chances of reaching a good long-term and sustainable withdrawal agreement are still there, and it's really in the interest of our relations with Britain, in the UK. interest of our economy … and of course in the interest of the people of our countries. "
With regard to future relations with Britain, she said: "It must always be clear that, even if we want to avoid difficulties, the difference between membership in the European Union and a partnership with the European Union as the third state must and will become clear. "
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13:00.
The EU's senior trade official downplays the announcement by the US of a trade deal with Britain, noting that London can not negotiate such deals before to have left the block.
The US administration has informed Congress of its intention to conclude trade pacts with the EU, Japan and Britain. President Donald Trump has long stated that he wants an agreement with Britain, even though he is negotiating a messy exit from the EU.
EU Trade Commissioner Cecilia Malmstrom recalled on Wednesday that "the UK can not negotiate any trade agreement as long as it is a member of the European Union".
Speaking before the Brexit summit in Brussels, Malmstrom said the Europeans "see this simply as preparations being prepared by the United States to negotiate with them and with others".
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10:05
European Union leaders converge on Brussels for what has been touted as a Brexit "moment of truth" summit, but hardly any hope of a breakthrough.
British Prime Minister Theresa May should urge her counterparts to step down from Britain, while European leaders hope she will come up with "concrete proposals" to break the stalemate.
The President of the EU Council, Donald Tusk, said that a "creative" thought was needed to avoid a hard border between Ireland, an EU member, and the EU. 39, Northern Ireland in the United Kingdom.
Britain leaves the EU on March 29, but an agreement is soon to be signed so that the relevant parliaments have time to decide.
Wednesday's summit comes as a new survey shows that 62% of Europeans view EU membership as a good thing.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, disseminated, rewritten or redistributed.
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