Thread by @nickgutteridge

Michel Barnier is giving a speech to @IIEABrussels this afternoon after returning from yesterday's talks with David Frost in London. He says: 'We have no more time to lose. We must have a final agreement by the end of Oct if we're to have a new partnership in place by January 1.'

Barnier says the UK 'frankly speaking has not engaged constructively' so far and he's 'particularly disappointed by the UK's lack of engagement' in the three core areas of EU interest - the Level Playing Field, fishing, and governance.

Barnier says UK has made no attempt to compromise on fishing: 'We fully understand and respect the UK will become an independent coastal state outside the CFP, but we will not accept that the work and livelihoods of these [EU fisher] men and women be used as a bargaining chip.'

Barnier: 'We have no wish to intervene in the UK's domestic affairs. But how can we conclude a long-term economic partnership agreement without knowing which system of state aid or subsidies the UK will put in place?'

Brnier says 'despite current tensions' he still has hope there will be a deal. He says: 'I continue to think, despite current difficulties, that PM Johnson wants an agreement with the EU. We will do everything in our power to reach an agreement until the very, very end.'

Barnier says there will be a 'huge difference' between deal and no deal. 'Sometimes I listen [to people] from the UK speaking of the chance of no deal. Good luck! Good luck! Frankly there is no reason to underestimate the consequences for many people, many sectors of a no deal.'