Reuters reports that a top official with the bloc said that the European Union is still negotiating a trade deal with Britain. He added that any agreement that may emerge between negotiators must still be approved by the 27 member states.

European Council President Charles Michel said the next few days will show what comes next and the 27 leaders meeting remotely on Dec. 10-11 will take a position on the latest developments.

"It's unfortunate that it took longer than planned, but we're still currently negotiating," Michel told a news conference. "We'll see over the next few days what the next steps are at this point in the negotiations."

He said the bloc's executive, the European Commission, which is negotiating with Britain on behalf of the 27 EU countries, will inform member states of the result of the negotiations once they are concluded.

"We want a deal but not at any price," Michel said. "For the European Union ... the 'level playing field' is key."