UK, EU reportedly agree on Brexit bill

The Union Jack (L), the national flag of the United Kingdom, and the flag of the European Union are pictured within a bilateral meeting of Britain. (File photo)

The UK and EU have reportedly reached an agreement on the terms of the Brexit financial settlement, a report says.

According to The Daily Telegraph, the negotiators of both sides have agreed that the controversial “divorce bill” will amount to between €45 and €55 billion depending on fine details.

Meanwhile, diplomatic sources told The Financial Times that Britain has accepted to take €100 billion of liabilities with a goal of paying less than half of that in net payments over the long term.

According to two sources, the terms were discussed and agreed on at a meeting in Brussels late last week following long discussions led by Oliver Robbins, the UK’s chief Brexit negotiator.

While a spokesperson for the European Commission’s negotiating team would not comment on the reports, British officials said they did not “recognize” the reported figures.

The Irish border, among other issues, has eclipsed the financial settlement in recent days.

The Republic of Ireland has threatened to veto Brexit trade talks unless Britain provides guarantees over Dublin’s border with Northern Ireland.

The Irish EU commissioner, Phil Hogan, said on Sunday that the border problem could easily be solved if British Prime Minister Theresa May drops her plans to take Britain out of the European Union customs union and the single market when it departs the 28-nation bloc in 2019.

Meanwhile, cabinet ministers in London have agreed negotiating positions on keeping the Irish border open and an ongoing role for the European Court of Justice in guaranteeing EU citizens’ rights, according to other reports.

On December 4, May and the European commission president, Jean-Claude Juncker, meet to discuss all the three Brexit issues: the Brexit bill, the Irish border and protecting EU citizens’ rights.

EU leaders are slated to take the final decision at a European council meeting on December 14 and 15.