No wonder they wanted us to stay! UK leaving EU without deal ‘would cost Germany BILLIONS’

Monday, April 24, 2017
By Paul Martin

BRITAIN leaving the EU without a deal would end up costing the remaining eurozone countries more, especially Germany, a Bundestag committee has been warned.

Mon, Apr 24, 2017

A hearing of the Bundestag’s European Committee was told by experts that Germany would incur extra costs because it is the largest net contributor to the EU’s kitty.

If Britain were to leave the bloc without a deal, then it would no longer be obliged to transfer any money to Brussels from April 2019 onwards and would not need to contribute to the future pension costs of EU officials, which stands at a sizeable £54.1billion (€63.8bn)

Dr Peter Becker, 58, at Germany’s Institute for International Policy and Security, told the committee: “The EU would then have no legal means to demand outstanding payments from London.”

With Britain not contributing, the pension fund would lose some £17bn (€20bn) by 2020, which would mean Germany having to pay up to an additional £5.1bn (€6bn).

The influential cross-party committee in the Bundestag is made up of 34 members with Gunther Krichbaum as the Chairman.

The EU’s pension contributions by Britain could be a major part of the Brexit negotiations when they start later this year in earnest.

The Rest…HERE

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