Britain Threatens to Quit Brexit Talks if EU Demands €100bn 'Divorce Bill'

Brexit Secretary David Davis warned on Sunday that Britain will quit Brexit talks with the EU unless Brussels drops its demand to pay a €100bn (about $112bn) bill.

Earlier in May, UK Brexit Secretary David Davis already stated that the UK will not pay "a divorce bill" to the European Union.

"We will not be paying 100 billion," Davis said in an interview with ITV's Good Morning Britain on May 3.

As earlier reported by the Financial Times newspaper, the European Union increased its demands regarding UK financial obligations up to some $109 billion, compared to some $64 billion announced by European Commission President Jean-Claude Juncker in early March.

Now, the United Kingdom is threatening to quit all Brexit talks unless Brussels drops its de­mands to charge it €100bn to leave the EU.

Davis said the threat was genuine and that Britain was prepared to see it through.

"We don't need to just look like we can walk away, we need to be able to walk away," he told the Sunday Times newspaper. "Under the circumstances, if that was necessary, we would be in a position to do it."

David Davis also declared that he would view €100bn bill as a "lot of money" as he made clear he was braced for a "turbulent" showdown with the EU.

On June 23 2016, the United Kingdom held a referendum to determine whether or not the country should leave the European Union. According to the final results, 51.9 percent of voters, or 17.4 million people, supported Brexit.

In late March, the United Kingdom officially began the withdrawal process by handing a formal letter to EU Commission President Donald Tusk. According to Article 50 of the Lisbon Treaty, London has two years to complete all relevant negotiations.