German PM Merkel says Britain will pay Brexit price

Britain would be treated fairly by the European Union after it quit the bloc, German Chancellor Angela Merkel said on Friday, but Brexit would nonetheless have its price.

Britain formally announced its intention to leave the 28-nation bloc in March, and has stated its intention to maintain a close relationship with the EU on exit. In recent days, Merkel has repeatedly stated that Britain must expect a more distant relationship if it is no longer a member.