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EU Refining Brexit Position as UK Threatens to Quit Talks

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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.

Bloomberg

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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.
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