UK not paying Brexit bill would be debt default, French source says

[webfact]

UK not paying Brexit bill would be debt default, French source says

 

FILE PHOTO: Anti-Brexit protester Steve Bray (R) walks after a Liberal Democrats news conference following the results of the European Parliament elections, in London, Britain May 27, 2019. REUTERS/Hannah Mckay/File Photo

 

PARIS (Reuters) - A source close to French President Emmanuel Macron said on Sunday that failing to pay a 39 billion pound ($50 billion) Brexit bill when Britain leaves the European Union would amount to a sovereign debt default.

 

"Not honouring your payment obligations is a failure of international commitments equivalent to a sovereign debt default, whose consequences are well known," the source told Reuters.

 

Boris Johnson, the leading candidate to succeed Theresa May as leader of Britain's Conservative party and therefore its next prime minister, said in a newspaper interview that he would withhold the previously agreed Brexit payment until the EU gave Britain better exit terms. ($1 = 0.7853 pounds)

 

(Reporting by Michel Rose; Editing by Laurence Frost and Kevin Liffey)

 

-- © Copyright Reuters 2019-06-10

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[AGareth2]

seems they need the money

[Maitdjai]

No problem. There is a "Failover Backup"! It always works.

("Hey, "smart" Germans, open your wallet!") ????

 

[malagateddy]

A new hardline negociating Brexit team would easily slash the 39 big ones down to a far more reasonable realistic price.
Remember..nothing has been signed to my knowledge..it's only a provisional costing right now as far as I'm aware.

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[Chomper Higgot]

2 minutes ago, malagateddy said:

A new hardline negociating Brexit team would easily slash the 39 big ones down to a far more reasonable realistic price.
Remember..nothing has been signed to my knowledge..it's only a provisional costing right now as far as I'm aware.

Sent from my SM-G7102 using Thailand Forum - Thaivisa mobile app
 

More Brexiteer folly.

 

The only thing a new ‘hardline Brexit’ team will reliably slash is the value of the pound and the British economy.

[malagateddy]

More Brexiteer folly.
 
The only thing a new ‘hardline Brexit’ team will reliably slash is the value of the pound and the British economy.

More from the project fear part 2 storybook..and no doubt more to come from the usual suspects[emoji6]

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[wayned]

Sounds like a Trump tactic when it's all over just don't pay!  Soon there wil be a Boris Johnson balloon in Brussels!

[Chomper Higgot]

1 minute ago, malagateddy said:

More from the project fear part 2 storybook..and no doubt more to come from the usual suspects

Sent from my SM-G7102 using Thailand Forum - Thaivisa mobile app
 

Tell that to all the expats here remitting their living experience money from the UK.

 

What is it ฿39/£ and only going in one direction.

[stag4]

Weren't we told that "nothing's agreed until everything's agreed"?

[KiChakayan]

1 minute ago, stag4 said:

Weren't we told that "nothing's agreed until everything's agreed"?

Seems that UK has attended some Thai school, where the teach that honoring your commitments is optional.

[terryw]

Macron does not seem to understand the difference between being unable to pay (default) and not willing to pay until there is a better deal (negotiation).

[vogie]

Michel Barnier has thrown down the gauntlet and stated that "we will never renegotiate the withdrawal agreement" This is aimed at any future PM.

Looks like we will walk away then and you go potless.

[Henryford]

We have already paid half a TRILLION Pounds into this dictatorship NO MORE.

[fishtank]

34 minutes ago, Chomper Higgot said:

More Brexiteer folly.

 

The only thing a new ‘hardline Brexit’ team will reliably slash is the value of the pound and the British economy.

There is no doubt about that at all.

We can only hope that the right wing extremists do not take over.

 

Edited June 10, 2019 by fishtank

[TopDeadSenter]

This 39 Billion, or 39,000,000,000 seems like a large sum of money. You could break it down to a weekly outlay over a year of 750 million quid a week. Wouldn't it be amusing to see this written on the side of a bus or somewhere that those that refuse to see facts could not help but see it.

 

 I had suspected that it would wipe the smug grins from their faces when the threat to shut the British wallet was made. I was right.

Edited June 10, 2019 by TopDeadSenter

[Chomper Higgot]

5 minutes ago, TopDeadSenter said:

This 39 Billion, or 39,000,000,000 seems like a large sum of money. You could break it down to a weekly outlay over a year of 750 million quid a week. Wouldn't it be amusing to see this written on the side of a bus or somewhere that those that refuse to see facts could not help but see it.

 

 I had suspected that it would wipe the smug grins from their faces when the threat to shut the British wallet was made. I was right.

A UK that doesn’t honor it’s debts sets out into the world looking for trading partners.

 

That’ll work.

[Laughing Gravy]

This so called divorce payment is a sham. Sadly we had a weak if not treacherous PM who was a remainer and coudn't help acting like a remainer. What about all the money the UK paid into the EU assets and buildings for over 40 plus years. You get divorced you are entitled to your share. It needs a strong brexiteer to tel them how it is.

[evadgib]

If we're found to have left on 31 March they'll have no comebacks and lets not forget Galilao which they think they can simply steal.

Edited June 10, 2019 by evadgib

[Kasane]

Wow. Is Britain going to become a pauper? Hope not, it will doom the island to servitude. But perhaps karma. What goes around comes around.

[Dumbastheycome]

Some  strange logic in the threat of refusing to pay as the basis for "forcing" an unlikely new agreement.

If it comes to pass the Brexit eventuates at all then the EU would have a very good bargaining chip for any ongoing trade.

Meanwhile Trump will rubbing his hands over an increased opportunity to screw over his "so much loved"

pseudo cousins for new trade expectations going in the US direction.

The UK  has put itself between a rock and a hard place. Now it seems to consider banging it's  head on same rock is a wise thing?

[Chomper Higgot]

Ditch the nation’s largest and most profitable trade partnership, wreck the economy, shutdown Parliament, sabotage the nation’s standing on the world stage, willfully ruin the nation’s financial credibility.

 

Pure vandalism.

[Kwasaki]

2 hours ago, webfact said:

A source close to French President Emmanuel Macron said on Sunday that failing to pay a 39 billion pound ($50 billion) Brexit bill when Britain leaves the European Union would amount to a sovereign debt default.

Lets have another hundred years war than pay. ????

 

The Hundred Years' War was a long struggle between England and France over succession to the French throne. It lasted from 1337 to 1453, so it might more accurately be called the "116 Years' War." The war starts off with several stunning successes on Britain's part, and the English forces dominate France for decades.

[TopDeadSenter]

34 minutes ago, Chomper Higgot said:

A UK that doesn’t honor it’s debts sets out into the world looking for trading partners.

 

That’ll work.

Well that would depend if the 39 Billion was fairly calculated, demanded by fully audited entities, and that Britain got full benefit to the tune of 39 Billion after payment. Otherwise the EU club expecting to get Billions for nothing, and making threats about it sounds like unwarranted demand with menaces. FTR unwarranted demand with menaces is a criminal offense.

[wombat]

2 hours ago, webfact said:

until the EU gave Britain better exit terms. ($1 = 0.7853 pounds)

er.....just to recap on 3 years ago

[Pedrogaz]

I geeve you my middle finger, monsieur.

The UK doesn't;t pay its debts anyway....it owes Iran a pile of money and has stolen Venezuela's gold.

[wombat]

1 minute ago, Pedrogaz said:

I geeve you my middle finger, monsieur.

The UK doesn't;t pay its debts anyway....it owes Iran a pile of money and has stolen Venezuela's gold.

pmsl...now that you mention it.

[Emdog]

Fix the 39 billion at whatever exchange rate was when article 50 was presented. Then when pound tanks, whoever is living at 10 Downing can say "Look at all the money I saved us!"

[Orton Rd]

33 minutes ago, Kasane said:

Wow. Is Britain going to become a pauper? Hope not, it will doom the island to servitude. But perhaps karma. What goes around comes around.

Unfortunately karma is a myth for sheep and what goes around does not come around. We should send the French a bill for liberating them twice from the Germans in two wars.

[Sydebolle]

I wonder if Macron, established by the Rothschild bankers, should be suggested to get extracurricular mathematic lessons.
I am not British, neither EU citizen, but as far as I understand, the UK had shoveled in billions of pounds into this endless pit in Bruxelles called the European Union.

This makes me wonder, honestly, who is the debtor here. But then, what do I know ........

[luckyluke]

Electoral promises,

we all know what it means.