Brexit: London will Pay its Bill to the EU When it Leaves

Finance General News
After Brexit negoitiations, United Kingdom must pay EU for its financial commitments

The United Kingdom shall pay the costs of leaving the EU in the same way that a friend fulfills its round of beers at a pub, said a spokesman the European Commission on Tuesday …

The payment of the invoice for Brexit is “an essential element of the negotiations on a separation in good standing”, said the spokesman Margaritis Schinas, at the daily press briefing of the European executive.

“It’s like going to the pub with 27 friends”, he added in a British metaphor.

“You order a round of beers and then you can not go while the party continues, you must stay until the whole party has ordered”, said the spokesman.

Brussels may require a British “exit invoice” from the EU of up to 60 billion euros, according to several European sources. An amount corresponding to the commitments already made by London in terms of contribution to the EU budget.

The Commission has not confirmed the figure, Mr. Schinas citing “a technical work in progress” to assess the cost.

“During the period of its membership (to the EU), the United Kingdom has taken and probably will still make financial commitments. These commitments are expected to be honored in full “, he told the spokesman.

The British Prime Minister Theresa May has promised to formally initiate divorce proceedings before the end of March.

In a document published on February 2, detailing its objectives, the British government has confirmed the British will leave not only the EU but also the single market and the jurisdiction of the European Court of Justice.

However, she said that they want to keep “the best possible access ” to the single market of 500 million consumers ” .

But “the regime of the single market that one day will be offered in the UK can not be as advantageous to the regime enjoyed by an EU member state”, reiterated on Monday the president of the Jean-Claude Juncker Commission receiving the Prime Minister french Bernard Cazeneuve.

Leave a Reply

Notify of