Saturday, October 1, 2016
The Brexit Fight Is Now Getting Dirty. They Are Fighting Over The Wine Cellar
Financial Times: Brexit divorce lawyers eye up EU’s wine list
UK to lay claim to array of Brussels cellars, art and property as part of split.
Britain is planning to claim a share of the EU’s 42,000-bottle cellar of wine, cognac and other spirits, its art collection and its €8.7bn property portfolio as the government gears up to haggle over Brexit with Brussels.
As in any divorce, untangling EU-UK financial affairs is expected to be one of the most difficult part of the negotiations. Any exit deal must settle complex liabilities including the UK share of guarantees on €60bn of Eurocrat pensions and almost €20bn of European Investment Bank loans.
As it seeks to minimise any financial hit, Britain is eyeing the other side of the EU’s balance sheet, which includes assets ranging from land and office space to dozens of space satellites, the European Parliament’s art collection, the wine and spirits stock — and Margaret Thatcher’s old Conservative party citadel in Westminster.
“Of course we will go for the assets,” said one British official involved in preparations.
Read more ....
WNU Editor: This fight over the wine .... and I can assure you it is the very good stuff .... is causing more of a stir among these diplomats than the breakup itself. On a personal note, this is what I miss about being a "small time diplomat" .... not paying taxes on smokes and booze. When I was at ICAO (Montreal) in the early 1990s .... Malboro was $6 or $7 a carton (yes .... a carton), and the hard booze (all name brands) were around $5 or $6 dollars (40 ounces). My favorite was Couvoisier VSOP ($16 a bottle). Sighhh .... I miss those days.