World Economy

UK Told to Pay Before Leaving

UK Told to Pay Before LeavingUK Told to Pay Before Leaving

Britain owes the European Union billions of euros in outstanding bills that will be need to be settled before Britain moves to carry out its shock decision to leave economic zone according to reports from German media, Telesur News reported. German magazine, Wirtschartswoche quoted an unknown EU official as saying that “A deal with Great Britain is unimaginable if the British do not pay their outstanding debt.” Britain is said to owe the EU a hefty $221 billion, which will need to be paid before they can formally cut off ties with Brussels, as the large debt cannot simply be written off. While Britain voted for a Brexit it will still be required to pay the European Union its membership fees whilst it is still technically a member. The claims add to the continued debate over the Article 50, the exit clause of the EU, as difficulties emerge on actually carrying out the split.