Exclusive: Britain Has A €25-Billion E.U. Bill Outstanding
Britain owes the European Union tens of billions of euros that Brussels will insist is paid out before the country leaves the 28-nation bloc, sources in Brussels have told Handelsblatt’s sister publication WirtschaftsWoche.
Britain is hardly the only country with outstanding payments. The European Union has for years been moving around a debt mountain totaling more than €200 billion, known as “Reste à liquider” (RAL). A high-ranking E.U. official said Britain’s portion amounts to €25 billion.
The European Commission is determined not to allow Britain to leave the European Union without paying. Some lawyers in the commission believe that non-payment would amount to a credit default on Britain’s part.
“A deal with Great Britain is unimaginable if the British have not paid their outstanding debt,” according to the E.U. official.
Picture Source: DPA