This is reported by The Telegraph.
According to the publication, according to the calculations of the European Commission, the funds must be paid until 2020, since, being part of the EU, Britain committed to participate in the financing of European programs designed for the period from 2014 to 2020.
Britain's financial obligations to the EU is one of the key issues, without compromise on which the EU refuses to proceed to the second phase of negotiations on Brexit.
In addition, Brussels wants to get clarity from London on issues such as the rights of citizens of each of the parties after the completion of the Brexit process and the arrangement of the border between Northern Ireland and the EU member Ireland.
As previously reported in URA-Inform, the European banks in 2017 withdrew about 350 billion of their own assets after the referendum Brexit. So, the total amount of investments from the European Union to the British banks was more than 17 percent of the total amount of money.