'Brexit means Brexit': EU's chief negotiator Michel Barnier hijacks PM's phrase as he says City will lose financial passports

The EU’s chief Brexit negotiator warned there was no chance of Britain “cherry picking” desirable elements of the single market. Speaking at a Centre for European Reform conference on Monday, he also used Theresa May’s catchphrase “Brexit means Brexit” against her.

He turned the phrase back on the Prime Minister as he dismissed “contradictions” of Leave supporters who say Britain can continue to enjoy some benefits of the single market while ditching its core principle of freedom of movement.

Pointedly noting that "the UK knows the rules" because it had a part in drawing them up, he insisted that the principles of the market were "non-negotiable". He added: "We take note of the UK decision to end free movement of people. This means, clearly, that the UK will close the benefits of the single market. This is a legal reality."