>> Enjoy your checkbook, Prime Minister.>> Britain has got its checkbook out, offering to pay much of what the European Union was demanding to settle a Brexit Divorce Bill. That's according to EU sources and follows reports in British newspapers, which valued the UK offer at 50 billion Euros.
That's more than double the UK's opening offer of around 20 billion Euros. The figure reflects the bulk of EU demands, including paying a share of post Brexit EU spending on commitments made before Britain leaves in March 2019, as well as funding EU staff pensions for decades to come.
A British government official said, they did not recognize accounts of the talks going on. Britain’s Brexit Secretary, David Davis, is staying tight lipped.>> We're gonna go
].>> And some EU diplomats warned that Britain had yet to make a fully committed offer. And this agreement from the other 27 member states could not be taken for granted.
The EU sets condition of significant progress on three key areas, including the Divorce Bill before it would begin negotiations on a crucial trade deal. The two other areas are protecting the rights of EU citizens in Britain and the Irish border. And it's the latter that remains the most difficult issue, as Senior EU Diplomat said.
Britain is yet to satisfy EU demand to clarify how it would have avoid a hard border with customs post on land between the European Union and Northern Island. Many fear that would disturb a fragile peace in the British province. And it's an issue that needs to be resolved if EU leaders are to give the greenlight to trade talks at a summit on December 14th, but the currency markets have responded positively.
Sterling rallied around 1% against the US Dollar as investors took the reports as a sign that the risk of Britain leaving the EU without a deal had diminished.