Read why the EU does not want Britain to leave the union

It has been exposed why the European Union is desperately fighting to discourage Britain from exiting the union.

According to a report, Britain’s exit to the EU is going to hit hard on countries in the Eurozone, especially Germany as revealed by a Bundestag committee. This is because, Germany being the largest net contributor to the EU would cost the country some extra billions.

Thus, EU leaders are desperately making some strategic moves to ensure a deal is reached with the UK, because if no deal is agreed upon, the UK would not be duty bound to make any financial contribution to the bloc after 2019.

Dr Peter Becker, 58, at Germany’s Institute for International Policy and Security, told the committee: "The EU would then have no legal means to demand outstanding payments from London.”

With Britain not contributing, the pension fund would lose some £17bn (€20bn) by 2020, which would mean Germany having to pay up to an additional £5.1bn (€6bn).

Statistics shows that the EU’s pension contribution by the UK may form significant part of the Brexit talks.

According to a Brussels-based think tank Bruegel it was estimated last month that the UK could face a bill of between £6.5bn (€7.7bn) and £8.5bn (€10bn).

On the other hand officials could have been underfunding the scheme as a result of discrepancies between discount rates used to calculate liabilities and staff contributions.

Therefore, EU leaders have repeatedly emphasised that Britain will have to pay its fair share of the bills before it leaves.

While President of the European Commission Jean-Claude Juncker has refused to state an exact figure he has in the past described the sum as “hefty”.

Even though several approximations have put the final bill to be in the region of £42bn (€50bn).

The think tank though has said that the figure though could be “substantially” more than that.

It said: “Depending on the scenario, the long-run net Brexit bill could range from €25.4bn to €65.1bn.

“Upfront UK payments could reach £92.5bn (€109bn) followed by significant subsequent EU reimbursements.”