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EU Wins First Battle Over Brexit as U.K. Retreats on Timing

  • Michel Barnier, David Davis hold 7 hours of talks in Brussels
  • This is not about ‘punishment’ or ‘revenge,’ Barnier says
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Michel Barnier, the European Union’s chief Brexit negotiator, discusses negotiations for Britain’s exit from the EU at a news conference in Brussels on Monday. (Source: Bloomberg)

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The U.K. lost its first battle with the European Union over the timetable for Brexit talks as the bloc’s chief negotiator warned that the consequences of leaving will be “substantial.”