Jump directly to the content

Top Eurocrat sparks fury by saying billions of pounds in taxpayer cash will be locked in a Brussels bank until 2054

FURY erupted yesterday after a top Eurocrat said billions in taxpayer cash will be locked in a Brussels bank for 37 years.

The European Investment Bank chief said £3billion was tied up in long-term loans.

Alexander Stubb has made remarks which will frustrate many politicians working to secure a good deal for Britain
PA:Press Association

Vice president Alexander Stubb warned Britain could lose a further £30billion if projects sanctioned by the bank “turn sour”.

Mr Stubb said: “I will do everything in my power to alleviate the pain, but the economic facts are just such that there are no ­winners in Brexit.” States set up the EIB in 1958 to make loans at rates below commercial banks. The UK has a 16 per cent stake.

Brexit backers point to the shareholding as an example of the “assets” Britain can claim as a credit in divorce bill talks.

Ex-Brexit Minister David Jones welcomed the recognition that cash was owed but said a 30-year wait to get it was unacceptable.

Boris Johnson looks to be a key player in Brexit negotiations, urging EU members to think forward about future trade agreements
AFP or licensors
The EU wants to keep British money in a Brussels Bank vault until 2054

The row came as Foreign Secretary Boris Johnson again urged the EU to start talking about a future trading relationship.

Speaking in Portugal, he blasted EU delays over a deal on citizens’ rights post-Brexit. He said: “It is unthinkable that any EU citizens will be asked to leave or have their rights’ damaged.”

His Portuguese counterpart Augusto Santos Silva said a good Brexit deal between the UK and the EU would be “win win”.


CHEESE-loving EU fatcats are demanding £1.8million from taxpayers to keep their supplies stored just right.

The fortune emerged in the European Parliament’s draft budget. It lists the sum as paying for “private storage of certain cheeses”.

Another £618,000 has been budgeted for a “manual of good practices for cruises”.

Independent MEP Steven Woolfe stormed: “This stinks.”


louses of parliament

Sex-pest MPs named by Westminster women’s secret WhatsApp group


Jeremy Corbyn suggests Northern Ireland future could be decided by the Republic


Brexit minister resigns due to injury jumping out of Black Hawk helicopter


Hammond faces fury for not closing £6bn tax loophole for foreign property owners


PM urges women in Commons to tell police if sexual harassed by her own MPs


Labour MP Jared O’Mara describes Thai women as ‘mail order brides’