Frustrated European ministers on Monday insisted there is still time to reach a Brexit deal despite the latest failed round of divorce talks, but the EU warned that it is stepping up preparations for failure. Meeting in Luxembourg, foreign ministers from the bloc’s 28 members admitted that no agreement will be struck this week at an EU leaders’ summit that had earlier been billed as the "moment of truth". EU Brexit pointman Michel Barnier met his British counterpart, Dominic Raab, in Brussels on Sunday, but they failed to agree to a draft Brexit divorce arrangement, as EU leaders prepare to arrive on Wednesday for the summit. Irish foreign minister Simon Coveney, whose country would suffer the biggest economic impact after the UK from a no-deal Brexit, said the latest stumble was "frustrating".

In Brussels, European Commission spokesperson Margaritis Schinas said the bloc’s own no-deal preparations are being stepped up. "While we are working hard for a deal, our preparedness a...

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