British Prime Minister Theresa May's spokesman said today that Britain does not recognise media reports that the government is willing to pay 40 billion euros (47.21 billion dollars) to exit the European Union. The so-called "exit bill" is one of the first issues on the Brexit negotiating agenda, and also one of the most contentious. <br/><br/>The EU has floated a figure of 60 billion euros, while Britain has not indicated how much it would be prepared to pay. The Sunday Telegraph yesterday reported that Britain would be willing to pay up to 40 billion euros.<br/><br/>The Prime Minister made clear in the letter triggering Article 50 that the UK and the EU need to discuss a fair settlement of both their rights and obligations as an EU member state. <br/>Britain has less than two years to negotiate the terms of its exit from the EU – an unprecedented untangling of more than 40 years of legal, economic and political ties.<br/><br/>Early rounds of talks have made little progress, with the EU's negotiating team demanding more clarity from Britain on what it wants.