A Short Primer on Brexit and How To Exit

The UK voted to leave the European Union for what appear to be very good reasons.

However, to actually get out of the EU, the British PM has to give notice to the other members that the UK intends to end its membership under Article 50 of the EU Charter. Now the current PM, David Cameron, as stated that he won’t do that and that he’ll leave office, not now, in October! He’ll leave the heavy lifting to his successor, whoever she or he may be.

Once the appropriate notices are given, a two-year negotiation starts that will result in an agreement defining the relationship between the UK and EU countries going forward. It is obvious that the negotiation will be very complex as the relationship between the parties involves financial, immigrations, travel, passport control, agricultural regulations, import-export rules and etc. Complicated stuff.

What I find most intriguing is that the vote did nothing with regard to this relationship other than give David Cameron some guidance. He has quickly announced his departure in October, but there is no requirement that his successor will give the notice required by Article 50 that starts the two-year clock.

So the UK has voted, but really we don’t know what will happen now.

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s