Michel Barnier boasts 'WE ARE READY' for no deal - but says UK will suffer outside of EU

Mr Barnier spoke at a conference on ‘The Future of the EU’, hosted by the Centre for European Reform (CER) in Brussels. The European Union’s chief negotiator delivered the keynote speech at the day-long event, which marks the launch of CER’s new Brussels office. Also on the agenda is the future of the euro, Brexit, migration and security. 

Mr Barnier said: "A no deal is not our scenario even though we would be ready for it. The no deal option comes up so often in British public debate but only those who ignore, or want to ignore, current benefits of EU membership would say no deal would be positive option."

He said calls for the UK to "cherry pick" aspects of EU membership were not based in truth. 

Mr Barnier said: "Those who claim the UK should cherry pick from parts of the single market should stop. The single market is a package with four indivisible freedoms. The UK knows these rules very well, like the back of its hand.