Here`s how important the UK is to the European Union

by Dramelin 11:30 PM 0 comments

Britain`s exit from the European Union means that one of the bloc`s biggest economies will stop making contributions to its budget.
CNBC takes a look at the importance of the U.
K.
to the EU budget and what other countries are willing to do about it.
At the same time, some member states have already told Brussels they are not willing to pay more into the EU budget to compensate for the U.
K.
`s departure.
This raises questions as to how long the U.
K.
will continue to pay its share of the budget and how can the EU fill the gap once Britain has officially left.
The U.
K.
has already said it will not pay a 60 billion euro ($64.
73 billion) bill to leave the bloc ? money that according to the EU would be used for the U.
K.
`s share of commitments to the pensions of its workers and U.
K.
-based projects that have already received funding approval.