European Union ministers meet in Brussels on Monday to refine their Brexit negotiating position after the UK threatened to quit talks on its departure unless the bloc drops its demands for a divorce payment as high as 100 billion euros ($112 billion).
Britain’s negotiations would otherwise be plunged into “chaos,” Brexit Secretary David Davis said in an interview published in the Sunday Times. Even a 1 billion pound settlement would be “a lot of money,” he said.
The size of Britain’s exit bill, and which types of negotiations can begin before it is determined, has been a source of debate for weeks and will prove an early test of the ability of both sides to find common ground.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.