UK faces $92 billion Brexit bill from European UnionREUTERS British Prime Minister Theresa May will trigger Article 50 of the Lisbon Treaty on March 29, marking the formal notification of the United Kingdom's intention to leave the European Union. The UK's "divorce bill" for Brexit will be around €60 billion (NZ$92 billion), European Commission president Jean-Claude Juncker says. SERGEI KARPUKHIN/REUTERS European Commission president Jean-Claude Juncker called Brexit "a failure and a tragedy". "It will be a bill reflecting former commitments by the British Government and by the British Parliament," Juncker said. Asked how he felt about Brexit, Juncker said: "It is a failure and a tragedy".

Source: Stuff March 24, 2017 10:41 UTC