Macron sends STARK Brexit ‘WARNING’ that UK will ‘face consequences’ over failing to pay £39bn

French President Emmanuel Macron has given his thoughts on Boris Johnson’s alleged intentions to withhold £39bn Brexit dividend and even stated that this would be a sovereign debt default which would be a catastrophe for the British economy.

Mr Macron has suggested there will be drastic ‘consequences’ for any ‘debt default‘ plan. Tory leadership frontrunner Boris Johnson has announced he is the candidate to take the Conservative party forward and stave off Jeremy Corbyn as nominations open to officially start the contest.

The Europhile President of France Emmanuel Macron has castigated Boris Johnson’s threat to withhold the UK’s previously agreed £39bn ‘divorce bill’ payment and has said it could be treated like a sovereign debt default.

Nations which do not repay the money they have borrowed are subject to punishments from international markets. These punishments could include a devaluation in the value of the pound as well as an increase in the price of servicing the national debt. However, it is unclear as to whether the international markets would act with precedent given no country has ever exited the EU before.

Boris Johnson has told Conservative MPs and members that as Prime minister he would not pay the promised £39 billion to the European Union and would favour a managed no deal exit to avoid any ‘disruption’. Mr Johnson then went on to say, ‘I think our friends and partners need to understand that the money is going to be retained until such time as we have greater clarity about the way forward,’ Johnson told the Sunday Times. ‘In getting a good deal, money is a great solvent and a great lubricant.’ These are the comments that have alarmed many at the heart of the European Union.

The most recent example of an EU nation defaulting on debt was when Greece failed to make a payment in 2015 during the debt crisis which nearly led to the country’s departure from the EU. Although many sources such as Ester McVey suggest Britain owes the EU far less than the agreed figure by Theresa May. As well as this it is impossible to predict how the markets would treat a non-payment of the divorce bill, since the UK would not be a nation which cannot pay its debt it is choosing not to. This has led many to attribute Mr Macron’s comments to a final attempt to scaremonger Britain into a softer Brexit, or possibly no Brexit at all.

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Oliver Down

Current Affairs Correspondent | My name is Oliver Down I am 22, and a staunch brexiteer. I am a Bristolian lad who studied politics in Leicester. I believe in free speech and accurate journalism and I won’t be afraid to give you “the other side” of the story!

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