Michel Barnier says EU is committed for deal that is good for everyone

The European Union is not out to punish Britain for leaving and its chief negotiator Michel Barnier is moving toward an accord that can make the best of Brexit for both sides, European Commission President Jean-Claude Juncker said on Tuesday.

"We don't want any punishment of Britain," the EU chief executive told the European Parliament. Describing Britain's departure as "a tragedy, a historical error", Juncker said that nevertheless, the EU would accept the result of the British referendum and "make the best of it" in the interests of all.

"The Commission, together with Michel Barnier, is moving into that direction," he said in English during a debate in the chamber with German Chancellor Angela Merkel.