LONDON, 19 December 2020, (TON): Speaking in the European Parliament on Friday, the EU's chief negotiator for talks with the United Kingdom Michel Barnier said it was "the moment of truth" for the talks and while there was still a "chance" of a deal, the "path was very narrow".

"It's the moment of truth. We have very little time remaining, just a few hours to work through these negotiations," Barnier said

Earlier, he met fishing ministers from EU states to discuss the continuing divisions over the issue.

The two sides have been at odds over the length of time it will take to introduce new arrangements once the UK leaves the bloc's Common Fisheries Policy.

He was speaking ahead of a last-ditch attempt to reach an agreement in talks with his British counterpart David Frost, despite the thorny remaining issues like fisheries.

"The unresolved issues in these few crucial hours that remain at our disposal are fundamental issues for the European Union. We are not asking more nor less than a balance between rights, obligations and reciprocity. Access to market and access to waters are the other way round. No more, no less."

Barnier said his team was striving for an agreement but "this is not an agreement that we are prepared to sign at any price."

Admitting he could not tell what may happen in the last hours of the negotiations, he called for preparations "for all eventualities".

Later on, the European Parliament adopted contingency measures to ensure basic road and air connections in case no agreement is reached on EU-UK future relations.

Britain left the EU on Jan. 31 and will leave the bloc's single market and customs union at the end of this month, as the transition period will end on Dec. 31. Negotiators from Brussels and London are working round the clock to break the impasse, but no agreement has yet been found.

Talks in Brussels are understood to be focused on how many years it will take to phase in new fisheries arrangements.

The UK will stop following the EU's trading rules in less than two weeks’ time. If there is no agreement by 1 January, the two sides will rely on World Trade Organization (WTO) rules to govern exports and imports.