EU Refining Brexit Position as UK Threatens to Quit Talks

May 22, 2017 Share Print 0

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

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.