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Saturday, 24 February 17:35 (GMT -05:00)



Foreign exchange market

UK Ready to Pay 40 Billion Euro for Brexit


The international expert community along with mass media keep on trying to evaluate the cost of the Brexit for the United Kingdom. The most popular version is that quitting the European Union will cost Great Britain around 40 billion euros. In particular, this idea is advocated by Deutsche Welle.

 

 

 

 
At the same time, The Sunday Telegraph claims that the specifics of the financial compensation to Brussels will become the catalyst for the Brexit talks. While referring to the high-ranking sources in the British government, The Sunday Telegraph reports that the government is ready to pay the EU up to 36 billion pounds, which is around 40 billion euros. This is the sum is intended to cover the UK’s financial liabilities to Brussels.
 
During the first round of the Brexit talks in late July, London and Brussels failed to make progress. That’s why they say that specifying the compensation figures is the only possible way out of the deadlock in the Brexit talks. At the same time, the EU insists on 60 billion euros. That’s why some experts believe that the final sum may be around 50 billion euros. The top-ranking source says that few members of the British government (not to mentioned the British society) are actually aware of how costly the Brexit may actually be for the UK.
 
The British government is not trying to back out of the Brexit process. However, London will agree to pay 40 billion euros only if the parties reach acceptable agreements. It’s all about the agreements defining the future cooperation between the EU and the UK after the Brexit, especially when it comes to economics and free trade.
 

 

As for the international Forex market, back in 2016, many experts predicted that the Brexit would affect the stability of the common European currency. NordFX experts reports that the current market tendencies seem to be confirming those predictions. Indeed, the Brexit talks keep on affecting the common European currency.

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