Finweek English Edition - - THE WEEK -

The EU has raised its open­ing de­mand for Bri­tain’s Brexit bill to an up­front gross pay­ment of up to €100bn, up from ini­tial es­ti­mates of €60bn, re­ported. The news­pa­per cau­tioned that es­ti­mates of the Brexit bill are “highly vari­able be­cause they in­clude as­sump­tions on Bri­tain’s exit date, its proper share of con­tri­bu­tions, UK re­ceipts such as its bud­get re­bate or EU in­vest­ment spend­ing, and the type of li­a­bil­i­ties it is ex­pected to hon­our”. As early talks about the fi­nal bill heat up, un­cer­tainty about the UK’s econ­omy, the world’s fifth-largest, in­creases. JP Mor­gan and Stan­dard Char­tered have al­ready in­di­cated plans to re­lo­cate hun­dreds of em­ploy­ees out of London. (Also see page 22.)

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