December 8, 2017 / 9:26 AM / 10 months ago

Britain won't pay EU more, or sooner, than if it were EU member: Barnier

BRUSSELS (Reuters) - Britain will honor all its financial obligations to the European Union as part of its divorce bill, but the payments will not be required any earlier than if Britain had remained an EU member, the EU’s chief negotiator Michel Barnier said.

The European Commission declared earlier on Friday that sufficient progress in the divorce talks with Britain was reached to move on to discussions of a transition period and a future trade deal.

Barnier repeated the words of British Prime Minister Theresa May that no EU country, including Britain would have to pay more or receive less as a result of Brexit.

“The UK will honor all the commitments entered into during its EU membership,” Barnier told a news conference.

Reporting By Jan Strupczewski; editing by Philip Blenkinsop

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