He said: “I don’t think that the negotiations are going in the way we might hope.”
The former Bank of England boss said that he had highlighted the importance of making sure that the other side know you have a fallback position when entering into negotiations.
But during the interview, he did criticise the Government’s handling of Brexit talks.
Lord King suggested creating a separate team incase negotiations break down and Britain was not able to strike a trade deal with Brussels.
He said: “I think that you need a separate team who are responsible for ensuring that if the negotiations do break down in some way, and we can’t control that, that depends on the other side and we have no influence on that, we are capable of saying that if you don’t want an agreement, we are capable of leaving and trading with you under WTO terms.”
During the same programme former Beatle Ringo Starr told Remoaners to “get on” with Brexit and attacked MPs who did not respect the result of the referendum.
Speaking on Newsnight, Ringo Starr said: “The people voted and, you know, they have to get on with it.
“Suddenly, it’s like, ‘oh well, we don’t like that vote’.
“And I’m like, ‘What do you mean you don’t like that vote?’
“You had the vote, this is what won, let’s get on with it.”