In the UK, ready to fulfill its obligations to the EU

In the UK, ready to fulfill its obligations to the EU

BERLIN, April 3. /Offset. TASS Mikhail Shcherbakov/. The UK is ready to fulfill its obligations to the European Union, but urged Brussels not to dwell on this topic during the negotiations on the Kingdom’s exit from the Commonwealth. In an interview with Handelsblatt newspaper said British Finance Minister Philip Hammond.

“The UK will always be to meet their obligations, but we are not talking about a specific figure. We must first under a thorough process to determine what rights and obligations we have in relation to the European Union,” he said. According to him, on the subject “cannot be fixed”. “We need to think about how to disassemble these numerous weave should look like in the future our relations will be organized in the transitional period”, — said the Minister.

According to him, in case London and Brussels on all these issues agree and Brexit will go for the “hard” scenario, the trade relations with the EU will be transferred on the basis of WTO rules. Moreover, can “cause serious difficulties in cooperation in the security sphere,” warned Hammond. “Without a new framework for such cooperation, we won’t share sensitive information,” — said the head of the British Treasury, noting that it should not be taken as a threat.

Answering the question about whether or not does the London to make the Kingdom’s tax haven, Hammond said that the government plans to keep financial regulation, the maximum identical to that of the EU.

“The more our regulations meet the standards of the European Union, the more complete will be the access to the internal market. Thus, far-reaching agreement on free trade means that the UK will retain the European practices in terms of regulation and taxes,” he added. “Such arrangements are not our preferred”, — concluded the Minister.

Prime Minister Theresa may on March 29, informed the EU authorities to initiate the procedure for withdrawal from the European community. From this point on was involved in the 50th article of the Lisbon agreement on the EU launching a two-year procedure of negotiations for Britain’s withdrawal from the community. Prior to the completion of negotiations, the United Kingdom will continue to be a member of the EU.

HelpBritain launched the Brexit. What’s next?Prime Minister Theresa may has notified EU authorities of the formal procedure is to run for the country’s exit from the EU.Read more