EU says "fully dedicated" to trying for a Brexit deal

The European Union is "fully dedicated" to clinching a post-Brexit trade deal before Britain's transition out of the bloc ends on Dec. 31, the European Commission said on Monday.

"We're of course aware that time is short. The more time that goes by the less likely it is that we will have a deal in place on the first of January, that's just a statement of fact," Commission spokesman Daniel Ferrie told a news briefing.

"I cannot say what may or may not happen over these days. But what I can say, though, is that we are fully dedicated to trying to reach a deal with the UK."