Boris Johnson’s government insists it wants to strike a broad trade agreement with Brussels, but has warned that breaking free from the EU’s rules and regulations is its top priority.
“The British have gone down a path no one has ever been down before. They’re taking a gamble,” Ms de Montchalin said in a joint interview with France 24 television and RFI radio.
“We Europeans regret their choice,” she continued, before insisting that Brussels wanted a “strong” post-Brexit relationship with London.
She said: “Economically and politically speaking, we need to have a strong relationship with the UK. Because the British are our closest neighbours, Britain is a big country.”
But any deal governing post-Brexit relations “must be a good deal,” Ms de Montchalin stressed. “A trade agreement under pressure is ‘no’.”
Britain and the European Union on Monday laid out their red lines for post-Brexit trade talks, offering incompatible visions of their future relationship.
EU negotiator Michel Barnier offered close trade ties but only as long as Britain agrees to play by its rules.
Brussels has repeatedly warned Britain the depth of future trade relations depends on whether London adheres to EU standards – what is known as maintaining the level playing field.
“We are ready to offer a highly ambitious trade deal as the central pillar of this partnership, including zero tariffs,” Mr Barnier told reporters.
“But we must now agree on specific and effective guarantees to ensure a level playing field over the long term.
“This means a mechanism to uphold the high standards we have on social, environmental, climate, tax and state aid matters.”
Prime Minister Boris Johnson said that while he too hoped to strike an ambitious agreement with Brussels, breaking free from the EU’s rules and regulations was his top priority.
“There is no need for a free trade agreement to involve accepting EU rules on competition policy, subsidies, social protection, the environment, or anything similar, any more than the EU should be obliged to accept UK rules,” he said in a speech in London.
He did, however, promise Britain would not “undermine” EU standards such as on protections for workers, the environment or consumers.
Mr Johnson has asked for the bloc’s free trade deal with Canada to be used as a model. But while the CETA pact is considered acceptable on tariffs and quotas, many Europeans fear it is too weak on provisions to guarantee fair trade.
London and Brussels have left themselves just 11 months to negotiate a deal before the transition period ends on December 31.
If they fail to strike a deal by then, trade relations will be administered according to the rules of the World Trade Organisation (WTO), with tariffs and increased barriers that could hobble EU-UK trade.