EU Financial Settlement Demands Extortionate – Johnson

The sums of money the European Union is to demand from Britain as part of its Brexit settlement “seem to be extortionate”, British Foreign Secretary Boris Johnson said on Tuesday.

The EU wants an agreement on how the “Brexit bill” will be calculated before launching talks on a free trade agreement. It puts Britain’s financial settlement at tens of billions of euros and includes covering a share of future EU budget commitments made while it was a member.

Asked by a lawmaker in parliament if the EU should be told to “go whistle” if it wants money from Britain to leave the bloc, Johnson said: “I think that the sums that I have seen … seem to me to be extortionate and I think go whistle is an entirely appropriate expression.” The phrase means to ask for something with little chance of obtaining it.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.