Minister told to remind Germany of cancelled WW2 debt amid EU demand for £50bn Brexit fee, by Greg Heffer.
Prominent Tory MP and veteran eurosceptic Sir Bill Cash suggested ministers “bear in mind” a post-war deal that saw Germany’s debt halved amid likely demands Britain pay a multi-billion pound EU exit fee.
Brussels’ chief Brexit negotiator Michel Barnier is ready to hit the Prime Minister with a eye-watering departure bill as soon as Article 50 divorce talks are triggered next Wednesday – with it believed the EU could demand the UK pay as much as £50billion.
But Sir Bill this afternoon advised Brexit minister David Jones to contemplate the 1953 London Debt Agreement should his department be faced with such a bill.
Signed by countries across the world the 1953 deal provided West Germany with relief on its massive post-war debts – including money owed from First World War reparations and post-1945 loans provided by the US.
hat-tip Stephen Neil