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There’s no such thing as a free lunch. The UK will pay 100 billion euros to the EU because of Brexit

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There’s no such thing as a free lunch. The UK will pay 100 billion euros to the EU because of Brexit
July 14
13:00 2017

Today The Financial Times has published relevant material regarding financial obligations of the island state to the European Union. It’s worth noting, the financial commitments raised by the Brexit procedure are mentioned for the first time.

Official London has finally recognized the existence of such obligations and its willingness to agree on this issue. The public statement was made just in time. The matter is that the negotiations regarding the realization of Britain’s withdrawal from the European Union are planned to be held in Brussels next week. The unwillingness to pay for the exit with a high probability would cause a serious conflict at the future talks.

Yesterday the British government sent a written statement to the Parliament. It said that the situation with conflicting financial claims between the EU and the UK had to be settled.

Official Brussels estimates the compensation in the amount of 100 billion euros. Surely, the recognition of such a huge debt to the European Union will negatively affect the behavior of the British pound.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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