Bloomberg reports the European Commission has rejected U.K. Prime Minister Theresa May's so-called "three baskets" plan for a post-Brexit agreement. May is meeting with her divided cabinet to come up with a consensus on a trade policy that does include data sharing between the U.K. and EU. In a speech in Munich last week, May proposed both regions retain close ties around law enforcement and data transfers, while breaking apart in other areas. In response, the Commission posted a slide presentation on its website. One slide states, "U.K. views on regulatory issues in the future relationship including 'three baskets approach' are not compatible with the principles in the European Council guidelines," and if the U.K. "aspires to cherry pick," there will be a "risk for the integrity" of the single market.
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