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Britain must settle EU divorce bill in euros: document

Britain must settle EU divorce bill in euros: document

PanARMENIAN.Net - Britain may be leaving the EU but it will still have to settle the divorce bill in euros, not pounds, according to an EU document on the upcoming negotiations Thursday, April 20, according to AFP.

"An orderly withdrawal of the United Kingdom from the Union requires settling the financial obligations undertaken before the withdrawal date," said the European Commission document seen by AFP.

"The agreement should define the precise way in which these obligations will be calculated ... the obligations should be defined in euro," it added.

The document did not say how much the Brexit settlement might cost but EU officials have previously said it could be as much as 60 billion euros, sparking howls of outrage in London which puts the figure nearer 20 billion.

Titled "Non Paper on key elements likely to feature in the draft negotiating directives," the document was drawn up for the European Commission which will conduct the Brexit negotiations with Britain.

It covers in more detail the same ground outlined last month by EU president Donald Tusk in response to Prime Minister Theresa May's official March 29 notification that Britain was leaving the bloc.

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