European Union's chief negotiator Michel Barnier (L) shakes hands with European Council President Donald Tusk at the European Council in Brussels, Belgium, Nov. 15, 2018. (Photo: Xinhua)

BRUSSELS, Nov. 15 (Xinhua) -- A European Council meeting is expected on Nov. 25 in order to "finalize and formalize the Brexit agreement," European Council President Donald Tusk told reporters Thursday.

Brexit is a lose-lose situation and negotiations are only about damage control, Tusk said.

The agreement is now being analyzed by all the member states. By the end of this week, the EU27 ambassadors will meet in order to share their assessment of the agreement, said the president.

"I hope that there will not be too many comments. They will also discuss the mandate for the Commission to finalize the Joint Political Declaration about the future relations between the EU and the UK," he noted.

"The European ministers will be involved in this process. The Commission intends to agree the declaration about the future with the UK by Tuesday. Over the following 48 hours, the member states will have time to evaluate it, which means that the EU27 Sherpas should conclude this work on Thursday," he added.

On Wednesday, European Union's (EU) chief negotiator Michel Barnier said the EU and Britain have made decisive steps to end Brexit negotiations, sending a clear signal for an upcoming special summit later this month.