Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

Brexit Series: UK ratchets up strong rhetoric against Brexit bill

The rhetoric from the United Kingdom is getting stronger over the exit bill demanded by Brussels, which could be as high as €100 billion according to calculations by Financial Times. The UK Prime Minister Theresa May said that money paid in the past and the United Kingdom’s share in several European institutions such as the European Investment bank must be taken into account before an exit bill is presented by Brussels. In an interview with Sunday Telegraph, she said, “There is much debate about what the UK’s obligations might be or indeed what our rights might be in terms of money being paid in the past. We make it clear that we would look at those both rights and obligations.”

The European Union rejected Britain’s request of starting trade negotiations until the bill is settled. The United Kingdom’s Brexit minister David Davis said that the talks could plunge into chaos if Brussels keeps on insisting on the exit bill clearing before any trade talks and warned the UK is ready to leave without any deal if the Eurocrats keep on demanding £100 billion. He said that he even considers £1 billion as a lot of money.

Last week, speaking in Germany, the Chancellor Angela Merkel has warned that the UK would have to pay the price if it looks to curtail immigration from the EU.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.