EU chiefs want Theresa May's Brexit team to agree to pay for relocation of EU agencies
Brussels has drawn up a list of demands in which they insist Theresa May’s country should be forced bear the brunt of the break-up.
The “draft negotiating directives” is described as a “work in progress” but gives an insight into the hardline approach Brussels will take in negotiations.
Politico revealed the Commission’s draft legal paper on its detailed negotiating mandate.
Britain's top Brexit negotiator, David Davis MP, will have to decide on exit bills
Aside from insistence Britain should be made to keep every financial agreement made until 2020, EU chiefs have also decided Britain should pay in euros, and bear any currency risk.
It states: “There should be a single financial settlement related to the Union budget and related to the termination of the membership of the United Kingdom of all institutions or bodies established by the Treaties such as the European Central Bank and the European Investment Bank.
“A single financial settlement should ensure that both the Union and the United Kingdom respect the obligations undertaken before the date of withdrawal.
“This single financial settlement should be based on the principle that the United Kingdom must honour its share of the financing of all the obligations undertaken while it was a member of the Union.
“These obligations cover liabilities, including contingent liabilities, legal and budgetary commitments and any other obligations deriving from a basic act within the meaning of Article 54 of the Financial Regulation.
“In addition, the United Kingdom should fully cover the specific costs related to the withdrawal process such as the relocation of the agencies or other Union bodies.”
In pictures: Theresa May meets with EU's Tusk
Thu, April 6, 2017
The two leaders held talks on Brexit negotiations
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European Council President Donald Tusk gestures to members of the media as he leaves 10 Downing street after talks with British Prime Minister Theresa May in central London
Despite the power play over Britain, and the calls for fairness for the EU – it was revealed yesterday Brussels is threatening to prevent member states from working with British finance firms as the UK counts down to exiting the bloc.
New rules which are being packaged under the "Capital Markets Union" (CMU) will clamp down on European-based finance firms in a post Brexit environment.
Earlier this month, the Financial Times reported top European Commission officials had warned staff to avoid “unnecessary additional complications” by doing deals with Britain in the run up to Brexit.
Mrs May’s Brexit team, led by David Davis MP, is yet to reveal details of Britain’s approach to Brexit negotiations.
The PM has said she will go for a hard Brexit but questions over the Single Market, trade, the final repayment and immigration remain unanswered.
Theresa May has not given many details on her Brexit plan – while the bloc's demands begin
The EU is determined to force Britain to pay an exit bill which could reach £55billionn, according to some.
Obligations include taking part in a payment scheme to Turkey to take back migrants from the bloc, dubbed the one-for-one deal.
Within the draft paper the bloc said all of the Union's interests in the United Kingdom should be “protected”.