May has stated that she would walk away from negotiations without an agreement with the EU rather than sign up to a "bad deal." Individuals and businesses in both the UK and EU could be subject to considerable uncertainty and legal confusion. He told ITV that he remained positive and said EU member states were keen to avoid falling out with the UK. But International Trade Secretary Liam Fox was less bullish, claiming any failure to secure a deal would be "bad" for Britain. "It's not just bad for the UK, it's bad for Europe as a whole," he told Sky News.

Source: CNN March 12, 2017 13:14 UTC