Ongoing talks between the U.K. and the European Union could break down at any point, according to a former member of the Bank of England.
This is because the way that Brexit talks have been planned is actually denying the chances of a successful outcome, DeAnne Julius, founding member of the Bank of England's Monetary Policy Committee, said in an exclusive interview.
"The negotiations could fall apart at any time because some of the (preconditions) are win-lose, not win-win, and that's not how you start a successful negotiation, you don't start with the win-lose issues," she said. The initial focus for Brexit talks have been on agreeing the Irish border, citizens' rights and an exit bill before discussing future trade arrangements and a transition period.
The EU's chief negotiator, Michel Barnier, reiterated Monday that there's no possible change to such plan.
"I think the structure of these negotiations is actually stack against a successful outcome, because on the one hand (U.K. Prime Minister) Theresa May has to keep her party intact, on the other hand, Barnier has no mandate to go beyond what's already been agreed with the 27 countries," she said.