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Britain is prepared to pay up to 40 billion euros ($47 billion) as part of a deal to leave the European Union, the Sunday Telegraph newspaper reported, citing three unnamed sources familiar with Britain's negotiating strategy.The EU has floated a figure of 60 billion euros and wants significant progress on settling Britain's liabilities before talks start on issues such as future trading arrangements.Britain's Brexit Minister David Davis said on July 20 that Britain would honor its obligations to the EU but declined to confirm that Brexit would require net payments.Former European Commision head Romano Prodi told the Observer newspaper said it would be economic "suicide" for Britain to fail to reach a compromise on Brexit, and called on the EU to preserve as much trade with Britain as possible to avoid damaging both sides.
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