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Brexit Starts on March 29

The prime minister of the United Kingdom Theresa May announced she will trigger Article 50 (for a voluntary withdrawal from the European Union) on 29th of March.
The process is supposed to take two years but this term could be extended due to many reasons and could happen only by the general consent of the European Council and every member state.
Triggering Article 50 means to formally notify the intention to withdraw, which practically starts the procedure of the exit. What is important is that after that all the treaties that govern membership of the UK will no longer apply to Britain.
The terms and conditions of the exit will be negotiated by the 27 members and each will have the right of veto. What follows is agreeing on trading relationships, new tariffs, free movement or other possible barriers. This process could take another 5 years, as per some EU leaders.
The business requires the smoothest and most uncomplicated terms possible. Nevertheless political leaders claim the conditions will be harsh to discourage other states from following the lead.

published on: 20.03.2017 15:45