Germany says the UK could be paying EU contributions for a decade after Brexit

Leaving the Union could cost the UK up to €60bn

Germany says the UK could be paying EU contributions for a decade after Brexit

Markus Schreiber AP/Press Association Images

Germany’s finance minister Wolfgang Schäuble has maintained his hardline-Brexit stance - he's warned that the UK will still be paying contributions to the EU long after its exit.

"Until the UK’s exit is complete, Britain will certainly have to fulfill its commitments ... Possibly there will be some commitments that last beyond the exit," he told The Financial Times.

PA

The German Minister added that these financial commitments could last until 2030. He also warned that the EU "cannot grant any generous rebates" to the UK.

The European Commission is examining the terms of a 'secret' deal between the UK and car-maker Nissan - it received assurances from the British government before it committed to building new car models in Britain.

Mr Schäuble said that the UK is required to comply with international rules regarding relationships between companies and states, regardless of whether it is in the EU or not.

"The UK is still a member of the EU and it is a country which has always upheld the valid regulations, valid laws and valid treaties," he told the financial publication.

The FT reports that the UK faces an exit bill of between €40bn and €60bn as a result of deciding to leave the Union.

This includes unpaid budget commitments, pension liabilities, and guarantees on loans linked to UK projects.