De Grauwe, Paul, (2017), “Brexit Creates Window Of Opportunities For The EU”, Social Europe, 5 April
The British government has officially started the “divorce” procedure from the European Union. This procedure must be completed within two years. In April 2019 the UK will cease to be a member of the EU.
Most divorces are painful affairs mainly because an agreement has to be found on who pays whom. The same will be true for the divorce of Great Britain and the European Union. The European Union intends to present a stiff bill to the British Government. According to some estimates this could go up to 60 billion euros. The hard line in the Conservative government of Theresa May does not want to pay a cent. These are the people who during the referendum campaign promised that Brexit would create massive budgetary means to be used to save the National Health Service from bankruptcy.
Relevant Posts
- Batsaikhan Uuriintuya , Kalcik, Robert , Schoenmaker, Dirk , (2017), “Brexit and the European financial system”, Bruegel, 9 February
- Núñez Ferrer, Jorge, Rinaldi, David, (2016), “The Impact of Brexit on the EU Budget: A non-catastrophic event”, CEPS, 7 September