“I have seen many negotiations, yes, but this one is such a wide one that you cannot strike a deal by changing a number, a percentage or adding a sentence. This is so wide that it took many months, in fact two years to negotiate, and there are so many different topics, so that’s why we needed something that encompasses the whole relationship and that’s why a last-minute agreement cannot fix it all,” Gramegna said.

The EU’s chief Brexit negotiator Michel Barnier warned Monday that time is running short for both sides to reach a deal. With this in mind, European countries have stepped up their plans in case the U.K. does leave without a deal.

Magdalena Andersson, Sweden’s finance minister, told CNBC Monday that her country “unfortunately” has had to step up no-deal preparations in the past few weeks.

“We hope that there will be a solution, a disorganized Brexit would be bad for not only Great Britain but for the rest of Europe,” she said.

“We are preparing for the worst scenario … We are telling our companies, particularly our small companies, they do need to prepare for the eventuality that there actually is a disorganized Brexit, but also our authorities, like the customs authority need to prepare,” Andersson told CNBC’s Willem Marx.

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