Brexit series: EU commission chief juncker tells UK to pay up for transition talks
Source: FxWireCommentary / 13 Oct 2017 06:46:06 Eastern Standard Time
Speaking at a forum in Luxembourg, the European Commission President Jean Claude Juncker, once again reiterated that the United Kingdom would have to pay the divorce bill that could amount to as much as €50 billion before talks could move forward on issues like trade and future relations. Earlier this week, EU’s chief negotiator Michael Barnier said that talks between the two have reached a deadlock and there has been no agreement on the Brexit bill.
He added that the process is taking a much longer time than originally anticipated and it doesn’t look possible that the EU and the UK would be able to clear all the issues related to the divorce before the timeline ends. The EU and the UK would need to clarify on their future and trading relations before March 2019, after which the existing relation would just cease to exist if not approved for extension by all member states.
Mr. Juncker insisted that there is no revenge but the UK will have to pay the bill, “They have to pay. Not in an impossible way. I’m not in a revenge mood”.© FxWire Pro 2017. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.