"The idea of punishing Britain is not the language of a club, it's the language of a gang", he said at the annual conference of the British Chambers of Commerce.
"I don't anticipate a return to violence like the kind we had 20 or 30 years ago".
If won, Britons could hold onto their current rights to work, travel and live freely across Europe, despite Britain leaving the single market and customs union. Discussions over the relationship are set to intensify over the coming months and are earmarked to conclude by the fall to give parliaments time to assess any deal.
Though conceding that tariffs would hurt businesses and consumers, Fox dismissed warnings that Britain was facing an "economic black hole" after Brexit.
Firms across the EU's 27 countries other than the United Kingdom will have to pay £31 billion a year in tariff and nontariff barriers if the United Kingdom leaves the bloc without a deal, the report by Oliver Wyman management consultants and law firm Clifford Chance said. Brexit will allow for bilateral trade agreements, however, these will come with pressures on standards and visa schemes.
"Also in the future, I suppose we try to keep interconnections between European Union and UK-based financial sector", Katainen said.
"The feedback from the financial sector itself is that they are prepared, they are realistic not to take too much risk as their duty is to serve their clients", Katainen said. He recently said in an interview that "sceptics" to such a deal were wrong, and that it would be "in our mutual interest" to establish a free trade agreement when Britain leaves the European Union next year.
In response, the European Parliament's chief Brexit negotiator Guy Verhofstadt, said: "Citizens' rights during the transition are not negotiable".
The section on the Irish border was broadly unchanged in the latest draft.
Mr Juncker today said the draft proposals should not come as a surprise or shock, suggesting it "translates faithfully" the agreement reached between British and European officials late past year to avoid a hard border.
"I am determined to avoid that particularly absurd effect of Brexit", EU President Donald Tusk said in Luxembourg on March 7, when the UK's partners in the bloc produced a blueprint for future economic ties with Britain.
But the text stresses that even closely aligned third countries with identical legislation can not enjoy similar benefits or market access as European Union member states.
New research on a smart border between Northern and the Republic of Ireland continues.
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