The European Commission has said that that amount could be between 60 to 100 billion euros (between $71 billion and $118 billion).
The aim in Brexit negotiations at the moment is to move forward on the payments issue, citizens’ rights and the Irish border by mid-December. Without an agreement on these three areas by then, the timeline for Brexit talks becomes complicated, increasing the possibility of a “hard Brexit” — meaning there could be higher tariffs for businesses on both sides of the English Channel.
The 27 countries have nonetheless given a green light at a summit in Brussels Friday to their technical teams so they can start preparing the next phase of negotiations. Though they are not sure that by mid-December there will be “sufficient progress” on the three key areas, they want to be ready to kick off trade talks as soon as possible.
Dalia Grybauskaitė, the Lithuanian president, said at her arrival in Brussels on Friday morning that Brexit needs to move “from words to real deeds.”
“It’s time to go for real negotiations and not just negotiating in the media by rhetoric,” she said.
Leo Varadkar, the Irish prime minister, welcomed May’s vision to not establish a physical border in Ireland but recognized that there are details missing in this area.
“There are obviously still delays on the three issues… but I think… We are making some progress,” he said.