He was the mayor who reveled in the glory of hosting the 2012 London Olympics, and the man who led the Conservatives to a whopping election victory on the back of his mission to “get Brexit done.”.

The British government is denying a report that it is seeking a “Swiss-style” relationship with the European Union that would remove many of the economic barriers erected by Brexit.

When the United Kingdom walked out of the European Union two years ago, Brexit supporters believed that British pragmatism and common sense would not only see them through but would allow their country to flourish as it stood alone.

France says it will announce potential sanctions over energy prices and trade “by the end of the week” in its fishing dispute with the United Kingdom.

The European Council has approved a 5 billion-euro ($5.8 billion) reserve aimed at helping EU businesses tackle the short-term effects of Brexit.

Former U.K. House of Commons Speaker John Bercow, a longtime Conservative, says he has switched allegiances and joined the opposition Labour Party.

The U.K.’s chief negotiator called on the European Union to show “pragmatism and common sense,” instead of threatening to retaliate, as the two sides meet to resolve differences over the deal that was supposed to keep trade flowing after Brexit.

He's known throughout most of Europe as Mr. Brexit, but not so well known at home in France.

Brexit and the coronavirus pandemic have hit London in a perfect storm.

Dozens of British residents in Spain were refused travel because airlines refused to take in as proof of residency documents used until the United Kingdom's departure from the European Union at midnight on Dec. 31, 2020. Airlines refused documents that before Brexit had been valid proof of the Britons' status as residents in Spain, Italy and Germany, although Spanish authorities claimed that the issue had been resolved by mid-Sunday. Around 300,000 British citizens are registered as permanent residents in Spain, although before Brexit, many more had been living full or part-time in the country without officially registering. Spain has been rolling out a new system to register permanent foreign residents called TIE but it’s suffering a backlog due to the high number of requests. “This should not be happening,” said the U.K. embassy in Spain said in a Facebook post.

A different U.K.-EU trade deal will bring new restrictions and red tape, but for British Brexit supporters, it means reclaiming national independence from the EU and its web of rules. Hundreds of millions of individuals in Britain and the bloc also face changes to their daily lives. Britons and EU citizens have lost the automatic right to live and work in the other’s territory. For some in Britain, including the prime minister, it’s a moment of pride and a chance for the U.K. to set new diplomatic and economic priorities. In Scotland, which voted strongly in 2016 to remain, Brexit has bolstered support for separation from the U.K.

EU ambassadors and lawmakers on both sides of the English Channel will now pore over the “EU-UK Trade and Cooperation Agreement,” which contains over 1,240 pages of text. EU envoys are expected to meet on Monday to discuss the document, drawn up over nine intense months of talks. But other barriers will be raised, as the U.K. loses the kind of access to a huge market that only membership can guarantee. EU member countries are expected to endorse the agreement over the course of next week. But even if they do approve it, the text would only enter force provisionally on New Year’s Day as the European Parliament must also have its say.

European Commission President Ursula von der Leyen arrives to deliver a statement at the EU headquarters in Brussels, Sunday, Dec. 13, 2020. (Olivier Hoslet/Pool Photo via AP)BRUSSELS – Teetering on the brink of a no-deal Brexit departure, Britain and the European Union stepped back from the void Sunday and agreed to continue trade talks, although both downplayed the chances of success. U.K. and EU negotiators were still talking at EU headquarters on Sunday, with less than three weeks to go until the U.K. leaves the economic embrace of the 27-nation bloc. What we want is a good deal, a deal that respects these principles of economic fair play." Tariffs will be applied to many U.K. goods, including 10% on cars and more than 40% on lamb, hurting the U.K. economy as it struggles to rebound from the impact of the coronavirus pandemic.

The political leaders are meeting in the hope of finalising a Brexit trade deal between Britain and the European bloc. “I do think we need to be very very clear, there is now a strong possibility — a strong possibility — that we will have a solution that is much more like an Australian relationship with the EU," Johnson said, using his phrasing for a no-deal exit. Australia does not have a free trade deal with the 27-nation EU. Months of trade talks have failed to bridge the gaps on three issues — fishing rights, fair-competition rules and the governance of future disputes. “I still hope that we will find a solution but it’s half-half," said Luxembourg Prime Minister Xavier Bettel, before adding“I prefer no deal than a bad deal."

Britain left the EU on Jan. 31 but remains in its economic structures until the end of the year. That means a serious economic rupture on Jan. 1 that could be chaotic if there is no trade agreement. The two leaders had hoped to inject political momentum into trade talks that have become hopelessly deadlocked on fishing and other key aspects of the future relationship. Reaching a trade deal by then would ensure there are no tariffs or quotas on trade in goods on Jan. 1, although there would still be new costs and red tape for businesses. Months of trade talks have failed to bridge the gaps on three issues — fishing rights, fair-competition rules and the governance of future disputes.

If Johnson cannot expel enough EU fishing boats from U.K. waters, a no-deal Brexit would surely ensue, creating chaos and costs for all and ruin for some. The French, Britain's fiercest political rival for access to U.K. waters, know about symbolism — and timing — too. As well as France, the Netherlands, Belgium, Ireland and Denmark are among those directly implicated by the potential closing off of U.K. waters. Deas said he expected there to be protests from disgruntled EU fishermen — especially French ones — if there is a deal that sees quotas reduced. Most agree Boulogne would be a prime target because so much U.K. fish is exported through there, and a blockade is relatively easy to achieve.

European Union chief Brexit negotiator Michel Barnier walks to the Conference Centre in London, Thursday, Dec. 3, 2020. “If we do that, there’s a good chance that we can get a deal across the line in the next few days,” Coveney said. A trade deal by then would ensure there are no tariffs and quotas on trade in goods between the two sides, but there would still be technical costs, partly associated with customs checks and non-tariff barriers on services. If a trade deal came later than Jan 1, it would make for two massive adaptations of customs and border rules within a short time. These relate to fishing rights in British waters, business regulations and state aid.

The Brexit trade negotiations have been suspended Thursday Nov. 19, 2020, at a crucial stage because an EU negotiator has tested positive for the coronavirus and EU chief negotiator Michel Barnier said that we have decided to suspend the negotiations at our level for a short period. (AP Photo/Frank Augstein, FILE)BRUSSELS – As if the Brexit trade negotiations were not tortuous enough, the coronavirus added a twist at a crucial stage on Thursday when top-level talks had to be suspended because an EU negotiator tested positive for COVID-19. It added uncertainty to the negotiations as a deadline looms ever closer and both sides are still divided on three key issues. Only on Wednesday a top European Union official said that trade talks with the United Kingdom still face “substantial work” that might spill over into next week. Both sides had hoped to get a trade deal by then to protect hundreds of thousands of jobs and businesses that could suffer if Brexit leads to a sharp end to existing trade relations.

Britains foreign minister says there are only narrow differences remaining in trade talks between the U.K. and the European Union. (AP Photo/Kirsty Wigglesworth)LONDON – Britain and the European Union edged toward resuming their troubled trade talks on Monday, after the bloc's chief negotiator said he was ready to “intensify” negotiations on the legal text of an agreement. Britain and the EU have been attempting to strike a new trade deal since the U.K. left the bloc on Jan. 31. He told British businesses to prepare for a no-deal economic break with the EU at the end of the year. The bill soured talks aimed at securing a new trade deal between Britain and the EU.

European Commission's Head of Task Force for Relations with the United Kingdom Michel Barnier leaves after addressing a media conference at an EU summit in Brussels, Thursday, Oct. 15, 2020. Ahead of Britain's angry retort to the summit conclusions, few doubted that Johnson will lean toward continuing the talks for a few more weeks. Overall, the EU says Britain is trying to retain the advantages of EU membership without the commitment to play by the bloc’s rules. Britain says it is baffled it can't get a quick deal with generous free trade concessions like Canada got a few years ago. It left trust in the Johnson government shattered, and the European Parliament, which must approve any deal, has vowed not to approve any trade deal if the U.K. government doesn’t withdraw this legislation.

It's part of Britain's new border with the European Union, and no one asked the locals for their permission. (AP Photo/Matt Dunham)SEVINGTON – Four years after Britain voted to leave the European Union, Brexit can still seem abstract. They are chewing up land to create part of Britain’s new border with the European Union — a customs clearance depot with room for up to 2,000 trucks. That means Britain must erect a customs border with the 27-nation EU, its biggest trading partner. But as a staunch supporter of Brexit, he is determined to see the positive side of the new customs site.

Brexit preparation minister Michael Gove describes that as a reasonable worst-case scenario in a letter to logistics firms. Michael Gove, the minister in charge of Brexit preparations, described the border backlog as a “reasonable worst-case scenario” in a letter to logistics firms and an oral update to lawmakers in the House of Commons. Such backups could lead to queues of up to 7,000 trucks on the British side, he said. “Today’s warnings are based on a reasonable worst-case scenario, but given we have a reasonable worst-case government, we have to assume that these scenarios will play out quite soon," Reeves said. Without a deal there will be much greater disruption, with the U.K. and the EU having to slap tariffs on each others’ goods.

The two sides are trying to strike a new trade deal by then, but talks have bogged down. The withdrawal agreement includes measures to ensure there are no barriers to trade or travel between Northern Ireland, which is part of the U.K., and EU member Ireland. Sefcovic said he was seeking an urgent meeting of the joint EU-U.K. committee on the Brexit Withdrawal Agreement. Britains move threatens to scuttle already deadlocked talks on a free trade deal between Britain and the bloc. EU and U.K. trade negotiators are meeting in London this week, with both sides gloomy about a breakthrough on the key differences: competition rules and fishing rights.

Watson, 52, has clashed publicly with Labour leader Jeremy Corbyn several times, most notably over Brexit policy and how to handle allegations of anti-Semitism within the party. The decision is personal, not political," Watson said in a letter to Corbyn, adding he would continue as deputy leader until December 12 to help Labour contest its election campaign. Unlike other British political parties, Labour deputy leaders are elected by party members and have an independent power base. A leading centrist and pro-European voice within the Labour Party, Watson had previously lent his support to a second Brexit referendum. In a letter posted online Wednesday, Corbyn thanked Watson for his contribution to the Labour Party.

LONDON - The next day or two will be crucial for the pound, which has shot up in the past week but remains highly volatile. A Brexit agreement "feels unlikely" to be reached on Wednesday during crunch talks between UK and EU negotiators, a government source has told CNN. Before the 2016 vote to leave the European Union, the pound was worth nearly $1.50. The pound has gained six cents against the dollar over the past week amid signs of significant progress. But it will be difficult for the United Kingdom and the European Union to iron out their differences in time.

(CNN) - Even as the Brexit chaos helps to deflate London's real estate bubble by undermining the city's status as a financial capital, record low interest rates are pushing prices in other European cities to dangerously high levels. The greatest risk of a real estate bubble currently exists in the southern German city of Munich, according to a new report by analysts at Swiss bank UBS. Now in its fifth year, the UBS Global Real Estate Bubble Index analyzes residential property prices in 24 major cities by examining trends in the relationships between prices, incomes, rent costs, economic growth and construction activity. Still, low interest rates have played an even bigger role in boosting real estate valuations in countries that use the euro, one of the report's authors, Matthias Holzhey, told CNN Business. London still unaffordable despite BrexitBrexit, which gave rise to uncertainty about the city's future standing in Europe, had weighed on London property prices, said Holzhey.

LONDON - UK Prime Minister Boris Johnson has rejected accusations that he lied to the Queen over his controversial suspension of Parliament in the run-up to the Brexit deadline. Johnson was asked on Thursday if he had lied to the monarch, after a Scottish court ruled the day before that his government's advice to the Queen, which led to the five-week prorogation, was "unlawful." "Absolutely not," Johnson replied, according to the UK Press Association. "We need a Queen's Speech, we need to get on and do all sorts of things at a national level," Johnson added. The Scottish judges disagreed with the government, saying Wednesday that the suspension was motivated by the "improper purpose of stymying Parliament."

With the British government in turmoil over Brexit, its consequences are looming, including the Irish border. The-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company. All rights reserved.

LONDON - The bravado of UK Prime Minister Boris Johnson's premiership turned into bluster in a mere two days. "In recent weeks I've been torn between family loyalty and the national interest," Jo Johnson wrote on Twitter in a move that signaled that he had chosen the latter. The night before, the so-called "One Nation" Conservative caucus wrote to Johnson imploring him to reinstate the 21 rebel lawmakers. Polls put the Conservative party at least six points ahead of Labour since Johnson took power in July. So as per the bill, Johnson will have to ask for the third delay to Brexit -- a move sure to disappoint hardline Brexit supporters.

In a third stinging defeat in two days, the House of Commons roundly dismissed the UK Prime Minister's demand for an election. Corbyn said he would support an election once legislation that would prevent a no-deal Brexit -- approved in defiance of Johnson earlier in the evening -- was enacted. One of those ejected from the party, former foreign office minister Alistair Burt, savaged Johnson in the House of Commons. "We are quite aware that we [the EU] are being used as the back drop for a Johnson election campaign," one diplomat told CNN. Johnson has declared himself determined not to take the option of a no-deal Brexit off the table, arguing that the threat of a chaotic departure makes his negotiating position stronger.

What is a no-deal Brexit? Can a no-deal Brexit be avoided? An election could certainly change the course of the Brexit process, if it swings Parliament further behind or against a no-deal. And Johnson could still secure a deal with the EU in the coming weeks, which -- if passed by Parliament -- would avert the need for a no-deal Brexit. But with options dwindling each passing day, a no-deal Brexit -- and with it a new, more unpredictable round of chaos in British politics -- is looking increasingly likely.

US stocks opened lower across the board, with the Dow sharply down, shedding more than 400 points. US manufacturing has been hurting because of the trade war and a global economic slowdown. China meanwhile filed a complaint against the United States with the World Trade Organization, according to multiple news reports. The United States delayed he implementation of about half of these consumer goods tariffs until December 15, aiming not to disrupt holiday shopping too much. One way or another, American consumers' worries about the trade war are beginning to crop up in economic data and will be a closely watching part of the data going forward.

Christopher Furlong 2006 Getty ImagesLONDON - The pound dropped below $1.20 for the first time since early 2017 on Tuesday amid growing uncertainty about the future of Brexit and talk of a third UK general election in four years. That's the lowest level since a flash crash occurred in October 2016, according to FXTM, a currency broker. The move comes as UK lawmakers return from their summer vacation to kick off a high-stakes week for Britain's future. Lawmakers who want to prevent a messy exit from the European Union will attempt on Tuesday to take control of the parliamentary agenda so they can pass legislation outlawing a so-called "no deal" Brexit on October 31. Uncertainty about Britain's future relationship with the European Union its biggest trading partner is already weighing heavily on the economy.

(CNN) - Pizza chain Domino's has spent 7 million ($8.5 million) to stockpile imported ingredients that might not be available if Britain crashes out of the European Union. The UK arm of the American fast food company said in an earnings statement on Tuesday that a disorderly Brexit "carries the increased risk of disruption to raw material supplies." The company imports about a third of its supplies from outside Britain including tomato sauce, frozen chicken, pineapple and tuna. "We expect the increased inventory level related to Brexit to be maintained into 2020," the company added. The British government has been working on preparedness plans in an attempt to minimize shortages following a disorderly Brexit, and has sought to assuage public fears of disruption.

Queen Elizabeth II smiles as she arrives before the Opening of the Flanders' Fields Memorial Garden at Wellington Barracks in London. Queen Elizabeth has built her reputation by remaining studiously impartial, and won't want any part of the move. This rebel group plans to use it to ask the Queen to exercise her right as head of state to travel to the next EU summit and ask for a Brexit delay. This latest twist in the UK's Brexit saga shows how concerned some politicians are about Johnson's premiership, even within his own party. On Thursday lawmakers voted to make it more difficult for the new leader to suspend parliament and impose a no-deal Brexit.