Michel made the remarks while commenting on Britain’s decision to leave the EU in a historic referendum on Thursday, Xinhua news agency reported.
He also pleaded to clarify the timing of Britain’s withdrawal from the bloc in order to “ensure clarity in the interests of all”.
“We will discuss these topics this afternoon (Tuesday) and listen to the arguments of British Prime Minister David Cameron,” said the Prime Minister.
A two-day European Union summit of leaders of all member states kicked off on Tuesday in Brussels. Brexit is high among the summit agenda.
“I wish, obviously, that Britain is doing well economically after the Brexit, we need to keep it a stable partner” but “I am not ready to pay the bill, to undergo a hostage”, Michel said.
The prime minister also promised that he would make “every effort to protect and defend economic and social interests” of Belgium.