A row over money could derail Brexit talks before they have begun

The risk of talks blowing up is greater than many realise


  • by
  • 02 11, 2017
  • in Leaders

THESE are exhilarating times for the 52% of British voters who last summer opted to leave the European Union. After months of rumours that an anti-Brexit counter-revolution was being plotted by the Europhile establishment (who even won a Supreme Court case forbidding the government from triggering Brexit without Parliament’s permission), it at last looks as if independence beckons. This week the House of Commons voted to approve the process of withdrawal. The prime minister, Theresa May, will invoke Article 50 of the EU treaty next month, beginning a two-year countdown to freedom.But the triumphant mood is about to sour, for a reason few people have grasped. The first item on the agenda in Brussels, where divorce terms are to be thrashed out, will be a large demand for cash. To Britons who voted to leave the EU because they were told it would save them £350m ($440m) a week, this will come as a shock. The mooted bill is huge—some in Brussels talk of €60bn ($64bn), enough to host the London Olympics five times over—and its calculations open to endless argument. Until now the Brexit debate has focused on grander matters, such as the future of the €600bn-a-year trading relationship between Britain and the EU. Yet a row over the exit payment could derail the talks in their earliest stages.

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