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UK not paying Brexit bill would be debt default, French source says

A source close to French President Emmanuel Macron said on Sunday that failing to pay a 39 billion pound ($50 billion) Brexit bill when Britain leaves the European Union would amount to a sovereign debt default.

"Not honouring your payment obligations is a failure of international commitments equivalent to a sovereign debt
default, whose consequences are well known, " the source told Reuters.

Boris Johnson, the leading candidate to succeed Theresa May as leader of Britain's Conservative party and therefore its next prime minister, said in a newspaper interview that he would withhold the previously agreed Brexit payment until the EU gave Britain better exit terms.