EU hints that Brexit talks may not start on time

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Financial Times columnist Wolfgang Munchau warned against overestimating the effect of Britain's election on Brexit strategy, as numerous decisions will depend more on its European Union partners.

Defence Secretary Michael Fallon said on Sunday that the plans were unchanged but added it was "very, very important that we're careful about the existing trade that we do with Europe, about access to the single market".

Foreign Secretary Boris Johnson gave his take of May's performance at the 1922 committee.

"There can be no backsliding from the objectives the PM set out in the [election] campaign - taking back control of our laws, our borders, our cash; but also ensuring that we have a great new partnership with the European Union that allows us to trade more freely and enthusiastically than ever", Mr Johnson wrote in the right-wing tabloid The Sun.

On Monday afternoon, Theresa May will meet with the 1922 Committee, a parliamentary group that comprises Conservative backbenchers - a term which applies to any lawmaker who sits behind Cabinet ministers on the government's front bench in the House of Commons, Efe news reported.

With Ruth Davidson, the leader of the Scottish Conservatives, today saying she's convinced the Prime Minister will now put the "country's economic future first" in Brexit negotiations, it's clear that a row over the nature of Brexit is on the cards. It went as well as it could, she showed some humility and admitted things had gone wrong.' There was a consensus that the last thing the party needs is another election and May in turn promised to serve as long as her party needed her.

Ratings agency Moody's and Ireland's prime minister designate Leo Varadkar also said the election made the opportunity of a "soft Brexit" more likely, but Davis downplayed the chances of Britain staying in the single market.

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May looked set to face criticism and anger from Conservative MPs at a private meeting in parliament over her handling of an election that lost the party its parliamentary majority. The DUP manifesto says the party wants a "comprehensive free trade and customs agreement with the European Union".

The government prepares the speech for the monarch, and reportedly it had two versions ready before the election; one to be used in the case of a Conservative majority, and one for an outright Labour victory.

But the prime minister may not last that long-she's certainly unlikely to see out the year-leaving Brexit negotiations in the lurch.

The threat of a leadership challenge from inside her own party hangs over her head - a threat vividly underlined Sunday when her former colleague-turned-nemesis George Osborne labeled her a "dead woman walking".

The Britons plan to start Brexit talks as scheduled despite the ongoing political turmoil in the country.

"It is hard to overstate what a dramatic impact the current political uncertainty is having on business leaders, and the consequences could - if not addressed immediately - be disastrous for the United Kingdom economy", said Stephen Martin, the director-general of the IoD. It found a negative swing of 34 points in confidence from its last survey in May. On Monday, the currency was under pressure once again.

"The UK has had a reputation, earned over generations, for stability and predictability in its government", said a senior executive at a multi-national company listed on the London FTSE 100, speaking on condition of anonymity. "The only conclusion I can draw... is that the election has changed absolutely nothing for Brexit".

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