Brexit will Result in a Deficit of EUR 12 Billion in the EU Budget

EU Budget Commissioner Gunther Oettinger said that after the leave of Britain from the EU, an annual deficit of 10 to 12 billion euros would appear in the Union budget. He explained that the EU should move to austerity or countries to pay more in the Union budget to offset the lower revenues. Reports Mediapool.

"In the long run, because of Brexit, the budget will lack between 10 and 12 billion a year, Says Oettinger for the German newspaper Bild, quoted by BGNES. Meanwhile, the British tabloid Telegraph said the British government is willing to pay up to 40 billion euros to repay its financial obligations to the EU after leaving the union. London hopes to sign a profitable Free Trade Agreement.