12:05
Pound falls against USD
The pound was down nearly a cent against the dollar at $1.38 on Mr Barnier’s remarks.
Sterling was also about half a cent off versus the euro, dipping below €1.13.
12:04
Question: Is it 'really weird' no UK press conference?
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@faisalislam
Asked to laughter if it was not “really weird” that UK Government has not given a presentation today on what it wants from future relationship, Barnier says:
“The time has come to make choices, and we await with great interest the choices”
12:02 PM - Feb 9, 2018
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12:03
Barnier: UK 'needs' transition period
Barnier says the UK "needs" the transition period "to allow the authorities and business to prepare".
On the problems faced in negotiations, he says: "It's the UK that asked for this period."
12:01
Barnier denies EU has been 'discourteous' on sanctions plan
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Faisal Islam
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@faisalislam
Replying to @faisalislam
Barnier: to be objective the UKis a country that faces v few of these infringement actions..
Faisal Islam
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@faisalislam
Barnier re Davis comments: not been discourteous or vindictive, dont want to punish the UK, will be true till the end of negotiations. Q simply we have to construct a withdrawal agreement that is legally sound
11:59 AM - Feb 9, 2018
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12:00
Question: How much threat is the transition under?
Barnier responds:
"I'm not going to talk about a threat. I wasn't talking about a threat, we have to bear in mind what the UK has said. I have some problems understanding the position. They themselves asked for this transition period.
"The EU27 heads of government said yes on the basis of very logical positions. It's understandable.
"If this disagreement were to persist there will undoubtedly be a problem. I hope we will be able to resolve this disagreement in the next round."
11:54
Barnier 'surprised' by disagreements
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Faisal Islam
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@faisalislam
Replying to @faisalislam
Barnier: UK is asking for a “right of objection” if it disagrees with a new law or rule entering into force during transition
Faisal Islam
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@faisalislam
Barnier: Justice and Home Affairs opt -ins - “I am surprised by these disagreements
11:53 AM - Feb 9, 2018
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11:52
Barnier's biggest warning yet about transition talks failure
He says: "I'm surprised by these disagreements and if they persist, a transition is not a given." "Time is very short," he adds.
11:51
Barnier begins by setting out three options for Northern Ireland
Barnier says the UK and EU both want to avoid a hard border between Northern Ireland and the Republic of Ireland, and protect north-south cooperation and the Good Friday Agreement.
He adds it is "important to tell the truth" about the current state of negotiations.
He sets out three options for how the EU thinks that can happen.
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The UK leaves the single market and customs union. That would make border checks "unavoidable", he says.
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The UK follows through on a promise to propose a "specific solution". "We are waiting for such solutions," he says.
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Northern Ireland retains full regulatory allignment
"Option one and two can only be made operational in the context of the future relationship," he says.
"In the mean time it is our responsibility to include the third option into the text of the withdrawal agreement to guarantee there will be no hard border whatever the chances of the other."
11:41
Barnier begins speaking
11:32
What's happening?
The EU's chief negotiator is holding a press conference after a week of technical negotiations on the Brexit transition period.
But it comes a day after one of the biggest rows of this stage of talks blew up - with David Davis going on the offensive over a leaked EU document.
The proposals in it were for the EU to suspend Britain's single market access if there are disputes with the ECJ it cannot resolve during the transition.
Davis called it a "political document" that "is not the aim of this exercise".
Barnier is often one to hit back when he feels he needs to, so expect several questions on yesterday's row.
11:15
Key points:
EU chief Brexit negotiator Michel Barnier gives media conference
Row over punishment paper likely to dominate
Speech concludes a week of technical talks
11:10
Good morning!
Welcome to our live coverage of Michel Barnier's press conference.