EU's chief negotiator warns of 'serious consequences' if no Brexit deal

The European Union's chief Brexit negotiator has warned there will be "serious consequences for everyone" if Britain and the EU fail to clinch a deal within the two years of talks.

Michel Barnier said that there could be "total uncertainty" for the UK, but told an EU audience that he will be negotiating in good faith to make sure that a mutually acceptable agreement is reached.

He said that "this scenario of 'no deal' is not ours".

Prime Minister Theresa May is set to trigger the two-year period of negotiations on March 29, and the talks could start in May.