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Brexit bill gets bigger as euro strengthens
August 25, 2017 / 11:58 AM / 3 months ago

Brexit bill gets bigger as euro strengthens

LONDON (Reuters) - As Britain’s pound declines against the euro, talk has begun to circulate about the potential for parity.

Flags are seen at the EU Commission headquarters ahead of a first full round of talks on Brexit, Britain's divorce terms from the European Union, in Brussels, Belgium July 17, 2017. REUTERS/Yves Herman

Less noted, however, is the fact that the more the pound weakens and euro strengthens the more the eventual leaving bill Britain will pay the European Union may cost.

The bill in pounds, if it came today, would have risen nearly 17 percent since the vote to leave the EU in June 2016 -- 1.4 percent since mid-August alone.

Britain and the EU return to the negotiating table on Monday with the leaving bill high on the agenda.

A net 60 billion euros ($70.8 billion) has been floated in Brussels. It has been shot down by British officials.

Were it to be correct, however, Britain would now owe around 9.4 billion pounds ($12 billion) more than it would have at the time of the vote.

For a graphic on the Brexit bill, click: reut.rs/2iw4pNQ

Reporting by Jeremy Gaunt

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