Juncker delivers EU State of the Union speech

The other 27 national leaders insist, however, that the divorce talks must show "sufficient progress" - a deliberately vague phrase - before they will negotiate a future trade deal.

Should the United Kingdom leave the European Union (EU) in March 2019, following the Brexit vote, Chubb Limited plans to locate its EU headquarters in France, subject to receiving the necessary regulatory and other governmental approvals.

It was not an intervention created to improve relations between Britain and the European Union as tensions rise over the Brexit talks.

Meanwhile, the prospect of Britain walking out of Brexit talks with the European Union has come closer with claims that the Government is set to go on the offensive and lay out the benefits of "no deal".

"Nonetheless, we have to respect the will of the British people".

Mr Juncker will likely call on member states to start thinking of life after Brexit and exploit the window of opportunity provided by the US's inward-looking turn under Donald Trump.

He said that by the time Britain leaves the EU in March 2019, euro zone membership and participation in the EU's banking union - which entails a single EU supervisor, resolution authority and deposit guarantee scheme - should be the norm for all EU members. Juncker did not utter the word "Brexit" until the very end of his 80-minute speech, saying that "we will regret it, but you will regret it too", earning jeers from British eurosceptics in the chamber.

China's investments in the EU have increased exponentially in the past five years: Chinese firms splashed out $70 billion on European companies in the first six months of 2016 alone.

Juncker, whose Commission proposes European Union legislation and polices the bloc's laws, said the European Union is into its fifth year of economic recovery, with unemployment at a nine-year low.

On future defence, it reads: "The UK has an important role in continuing this through innovation, research and collaboration".

He also proposed an European Union framework to screen foreign investments in Europe when concerns arise about unfair competition, particularly in strategic industries.

"Europe would be easier to understand if one captain was steering the ship".

"Europe has to be able to act quicker and more decisively", Juncker said in a speech to the European Parliament in Strasbourg, urging the use of so-called "passerelle clauses" to reduce countries' veto powers.

"Cyber-attacks are sometimes more risky for the stability of democracies and economies than guns and tanks", he said.

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