The Latest: EU says current agreement is "best possible"

MarketsAssociated Press

The European Union presidency says the deal with Britain on leaving the bloc is the "best possible agreement" and preferable to a "no-deal" Brexit.

Romanian President Klaus Iohannis, whose country holds the rotating EU presidency, said Saturday that "the clock is ticking" until the March 29 exit and "we would all favor an orderly withdrawal, an approval of the agreement, which is the best possible agreement."

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Iohannis says: "In politics, or even in economic negotiations, it's impossible to find a solution which is the ideal solution for both sides. You always need a compromise ... and we found a good compromise."

Regardless of what happens, he told the Munich Security Conference, "it's obvious that we need each other so the future relationship will be a good one."