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London Faces Brexit Settlement Bill of Some $62Bln After Triggering Article 50

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The United Kingdom may have to pay a settlement fee of up to $62 billion for outstanding liabilities after triggering Article 50 of the EU Lisbon Treaty, local... 15.12.2016, Sputnik International

2016-12-15T20:44+0000

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London Faces Brexit Settlement Bill of Some $62Bln After Triggering Article 50

20:44 GMT 15.12.2016 (Updated: 12:12 GMT 09.02.2023)

The United Kingdom may have to pay a settlement fee of up to $62 billion for outstanding liabilities after triggering Article 50 of the EU Lisbon Treaty, local media reported Thursday.

This photo illustration created on May 20, 2016 in Lille shows the flags of the European Union and the United Kingdom - Sputnik International

UK Unlikely to Join EFTA as Alternative to EU-UK Post-Brexit Deal - Official

15 December 2016, 11:48 GMT

MOSCOW (Sputnik) — The reported calculation is believed to include the obligation of the United Kingdom to pay into EU budget until the end of 2020, to cover outstanding pensions liabilities and other payments related to loan guarantees, according to Sky News.

In June, the United Kingdom voted in a referendum to leave the European Union. Soon after the referendum, UK Prime Minister Theresa May said that the country would trigger the Article 50 by the end of March 2017, thus beginning withdrawal negotiations.