British negotiators are sure to argue about the size of the bill. May's official spokesman revealed the news to journalists at the daily 11 a.m. lobby briefing Monday.
Schaeuble didn't name any specific sum of money.
"However, in the quiet data period ahead, that seems like less of a risk than normal, in no small part because Brexit-related uncertainty is unlikely to decline significantly anytime soon".
Zaoralek says: "We're entering something we have no experience with".
But EU negotiators warn it could take two years just to settle the divorce terms; agreeing on a new relationship for the United Kingdom and the EU could take years longer.
He told reporters in Brussels that "it's taken a long time. but at last we are going to be able to get into the subject in detail".
The PM's official spokesman said: "Earlier this morning, the UK Permanent Representative to the European Union informed the office of Donald Tusk that it is the UK's intention to trigger Article 50 on March 29".
Later this week, EU leaders will gather in Rome to mark the 60th anniversary of the Treaties of Rome, which established the European Economic Community - the initial forerunner to the EU.
"This is not only the beginning of the process, it's also the beginning of a process by which the delusions of the Brexiteers will have a very brutal collision with reality", former U.K. Deputy Prime Minister Nick Clegg said in an interview.
Negotiations will also soon hit a fundamental topic: Britain wants "frictionless" free trade, but says it will restore controls over immigration, ending the right of European Union citizens to live and work in Britain.
By triggering Article 50 of the EU's governing treaty, Britain will set in a motion a process that is expected to see it officially leave in early 2019.
Once the draft negotiating guidelines have been accepted, the European Commission will legally recommend the starting of talks. European Union leaders plan an initial response within two days before convening a summit to ratify guidelines for their chief Brexit negotiator, Michel Barnier.
On the EU side of things the European Commission will lead negotiations, but the final agreement will require consent from European Parliament, which consists of hundreds of MEPs from every member of the EU.
"The phoney period is almost over, and the real work of negotiations are about to begin", McFadden said.
He said that "everything is ready on this side", and that the EU's executive arm stands ready to play its role once the letter of notification is actually sent.
March 29 - May will write to European Council President Donald Tusk to trigger the withdrawal process.
Sterling fell half a cent against the dollar on what Brexit minister David Davis described as a move taking Britain to "the threshold of the most important negotiation for this country for a generation".