Bloomberg reports U.K. Threatens to Quit Brexit Talks If It Faces Massive Bill.

The U.K. will quit Brexit talks unless the European Union drops its demands of a divorce payment of 100 billion euros ($112 billion), Brexit Secretary David Davis said.

Britain's negotiations on leaving the EU would otherwise be plunged into "chaos," and even a 1 billion-pound settlement would be "a lot of money," Davis said in an interview published in the Sunday Times.

The size of Britain's exit bill, and which types of negotiations can begin before it has been agreed, has been a source of debate for weeks.

European Commission President Jean-Claude Juncker has said the U.K. will have to pay about 50 billion pounds, while Luxembourg's Prime Minister Xavier Bettel has signaled a figure between 40 billion euros and 60 billion euros.