EU’s Barnier: UK will keep all benefits of EU single market during transition period

While addressing a press conference for Article 50 negotiations, EU Brexit Chief Michel Barnier was noted saying that sufficient progress was important and a necessary step for starting the second phase of Brexit talks. 

Key quotes:

   •  We need time to establish an orderly withdrawal
   •  We are not at the end of the road for completing orderly withdrawal of UK from
   •  Transition period will enable UK to prepare; it will be part of UK's orderly withdrawal
   •  Any transition period has to safeguard EU's principles
   •  This will not be an 'a la carte' transition for Britain
   •  UK will keep all benefits of EU single market during transition period - as well as obligations

The comments followed the latest headlines out of the EU commission, hitting the wires via Bloomberg that the Brexit transition period would end on 31 Dec 2020.