European Union officials are ruling out any discussions with Theresa May over a post- Brexit trade deal until the prime-minister agrees to settle Britain’s financial commitments to the union.
In a sign the European Union is toughening its stance as Britain prepares to trigger two years of negotiations, two European officials said in the best case scenario it may take until early 2018 to find common ground on the bill.
The EU may not even reveal the sum it wants the U.K. to pay until after German elections in September.
Theresa May’s government has already questioned the size of any exit fee and wants to discuss the divorce and future trading relationship at the same time.
The bill to settle the U.K.’s liabilities is estimated to run to about$64.5 billion dollars.
The negotiations, will begin immediately after the May trigger Article 50.
This will cause disorder around the pound and is expected to see high volatility.
Source Bloomberg
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