'No-deal' Brexit means no £39bn divorce bill, Dominic Raab warns EU | Forex Factory

  • 'No-deal' Brexit means no £39bn divorce bill, Dominic Raab warns EU

    From news.sky.com

    Brexit Secretary Dominic Raab has said Britain will not pay its £39bn EU divorce bill if Brussels refuses to strike a deal. Writing in The Daily Telegraph, Mr Raab insisted the government "would not pay the terms of the financial settlement" if an agreement with the bloc was not reached. He called on "our EU friends" to match "the ambition and pragmatism" shown by the UK during the negotiations so far, adding that there would be "no deal without the whole deal". What a "no-deal" Brexit scenario might look like should become somewhat clearer on Thursday, with the government due to detail potential effects such as ... (full story)

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boxerr
Sep 13, 2018 4:32am
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Well chaps, it's like this, the EU is a very wrong project run by technocrats, and fools too the project. it's centralizing everything to the detriment of the individual nations.
Money, or wonga if you like, profit at any cost, shouldn't be the driving force in any argument, as that isn't what the EU is about.
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Not-KPMG
Sep 13, 2018 3:04am
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Quoting CoolJL
"No-deal' Brexit means no £39bn divorce bill" So why are we looking for a deal?
Cos people are more far-sighted than you bubba!!

Talking 20 years ahead, not your measly weekly allowance

Then again, Britain spend 10 years sucking to De Gaule (a French guy, check him) to enter EU.
....
So why leave???
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Lamplighter
Sep 13, 2018 11:54am
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The trouble on the forum is that most people have only a partisan view and have limited scope of understanding due to not having the complete financial picture. Inward investment both private and sovereign from countries outside the EU into the UK is massive and will continue regardless of the UK’s trading status with the EU post Brexit.
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Wayne2401
Sep 13, 2018 5:14am
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Quoting Nick.
Boy this is not good from the UK. It takes you a life time to build a good reputation and 20 minutes to waste it. What is that saying to the rest of the countries you so desperately trying to close deals with? Plus I think UK is liable to pay that money and if the EU takes them to court it will win and still has to pay the money. I'm starting to get the feeling that the UK government it's run by a bunch of idiots.
Many legal opinions have clearly stated the UK is not liable to legally pay any "divorce monies"
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Nut
Sep 13, 2018 6:16am
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Quoting the big figure of 39B is all well and good, however, just how much trade does 39B procure and what is the profit margin for the UK.
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Nick.
Sep 13, 2018 4:11am
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Boy this is not good from the UK. It takes you a life time to build a good reputation and 20 minutes to waste it. What is that saying to the rest of the countries you so desperately trying to close deals with? Plus I think UK is liable to pay that money and if the EU takes them to court it will win and still has to pay the money. I'm starting to get the feeling that the UK government it's run by a bunch of idiots.
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nbfx
Sep 13, 2018 9:14am
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Quoting Nick.
{quote} That's up to the courts to decide, isn't it?..
Except but whose court, theirs or ours?
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AnniLi
Sep 13, 2018 4:22am
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No chance of no deal. USA already run by idiots. Its not an exclusive club. We apply huge resources to accumulate knowledge then governments act on pretending ignorance. So much unnecessary waste and human suffering.
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theras2000
Sep 13, 2018 5:47am
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Quoting Wayne2401
{quote} Many legal opinions have clearly stated the UK is not liable to legally pay any "divorce monies"
According to the Institute for government if we do not pay the divorce bill, we exit the EU with no deal and no transition deal. Even a Brexit fanatic like you should realise this would be a complete disaster for the UK.
https://www.instituteforgovernment.o...u-divorce-bill
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Nick.
Sep 13, 2018 8:58am
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Quoting Wayne2401
{quote} Many legal opinions have clearly stated the UK is not liable to legally pay any "divorce monies"
That's up to the courts to decide, isn't it? I think in my opinion and speaking from experience it will be a lot smarter to settle things out of court. Especially when the odds are stacked against you.
You just have to understand and try to put yourself in EU's shoes. For them, it will be a lot worse if they give the UK a free pass. On the other hand, the UK is trying to get the best possible outcome before the end date and to be honest they are not very good at making a good case on why they should get what they asked for especially when you start with insults and threats.
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nbfx
Sep 13, 2018 6:52am
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Quoting theras2000
{quote} According to the Institute for government if we do not pay the divorce bill, we exit the EU with no deal and no transition deal. Even a Brexit fanatic like you should realise this would be a complete disaster for the UK. https://www.instituteforgovernment.o...u-divorce-bill
That becomes a chicken and egg discussion.
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Prof.Trader
Sep 13, 2018 2:03am
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Bad news about Brexit again...
Likely, UK goverment do'nt want to pay EU Block...

So, that's why They wanna "Brexit No-Deal"...
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yousername
Sep 13, 2018 5:04am
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Smart men! Using the 38bn bills as a leverage to have some sort of deal!
No deal is enough to cover the 38bn bill.
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Nick.
Sep 13, 2018 7:24pm
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Quoting nbfx
{quote} Except but whose court, theirs or ours?
The international court of justice.
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CoolJL
Sep 13, 2018 5:42am
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Quoting Not-KPMG
{quote} Cos people are more far-sighted than you bubba!!
A lot of them aren't, that seem to includes you. Instead of looking at the opportunities ahead, you are caving into fear of change.
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CoolJL
Sep 13, 2018 2:57am
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"No-deal' Brexit means no £39bn divorce bill"

So why are we looking for a deal?
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Trader#3444
Sep 14, 2018 4:49am
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Minister Raab is probably correct in advising that UK will default on its exit bill.
Published statements from leaders of pretty much all large UK based industry - auto -aerospace - agriculture etc and Governor Carneys evidence to Treasury committee certainly suggests that a No-Deal will leave UK pretty much stretched to pay anybody. What a mess.
But one that savvy currency traders and market makers will profit from.
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