No free Brexit, warns Juncker

The UK will have to pay a bill of about $62 billion when it leaves the European Union, Commission President Jean-Claude Juncker warned as Britain prepares to trigger the start of Brexit negotiations.

While there is no desire to punish Britain for leaving the bloc, the EU must deter other countries from following, the head of the EU’s executive arm said yesterday. Britain knows they’ll have to pay what they owe, he said. – Bloomberg