British Prime Minister Theresa May has said that the European Union and the United Kingdom are at an "impasse" in talks over Brexit.
The U.K. leader has reiterated that she will not overturn the result of the referendum and "will not break up my county."
Her comments come a day after European Union leaders rejected her plans during a summit in Austria.
After a dinner in Salzburg, the EU leaders said would continue to press for a Brexit deal next month but rejected May's proposal to seek a free trade area for goods with the EU.
EU leaders further cautioned May that talks could collapse if she doesn't give leeway on the issues of Northern Ireland's border and trade.
After those warning's May faced reporters and repeated that Britain was prepared to walk away from the European Union without a deal. She further dismissed any suggestion that if the U.K. parliament was to reject her plan for leaving the EU, there could be a second referendum.
"There will be no second referendum," she said.
Sterling had fallen almost one percent in trading Friday prior to the speech xxx
Under Theresa May's Chequers plan, an UK-EU free trade area will be created with a "common rulebook" for industrial and agricultural goods. Britains rule book on the good s would "harmonize" with that of the European Union.
It also calls for a "facilitated customs arrangement"
Britain is due to leave the European Union on March 29, 2019 and will then have 21 months to make the transition to full withdrawal at the end of 2020.
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