Macron warns of splits in the EU

The EU must not fracture in its negotiations with Britain on phase 2 trade talks, French President Macron told The Telegraph.

He warned fellow EU leaders not to fall for the "prisoner's dilemma" - the paradox where two parties act out of individual self-interest and both lose out in the process.

The problem is that everyone wants to squeeze Britain in different ways. Germany and France want to conquer and divide the UK financial services industry while other countries may not mind having continued competition or want to exclude other parts of the UK economy.