Prime Minister of the United Kingdom, Theresa May, has signed the letter which will formally begin the UK’s departure from the european union. By triggering article 50, she began a two-year process that will start the United Kingdom’s departure from the European Union.
with this letter, the United Kingdom officially notifies the European Union that it is leaving. Article 50 gives both sides two years to reach an agreement, so unless both sides agree to extend the deadline for talks, the UK will leave on March 29, 2019.
Why is Britain leaving?
On Thursday, June 23, 2016, a referendum was held in order to decide whether the UK should leave the EU.
According to the votes, 51.9 percent voted to leave the EU, while 48.1 percent voted to stay. In addition, the referendum turnout was 71.8 percent.
What is Article 50?
Article 50 of the Treaty on European Union is a part of European Union law according to which member states may leave the European Union. In addition, the Treaty Of Lisbon was signed in December 2007, and it became a law in 2009. The Treaty of Lisbon provides exit for member states which want to leave from the European Union. However, the Treaty itself is still ambiguous. This means that member states could be forced to enter long negotiations in order to talk about the terms of the deal.
After Article 50 is invoked, a two-year period starts during which Britain will be expected to enter negotiations on plans for its relationship with other members of the EU.
Moreover, all 28 members need to agree with the terms of deal. During this period, Britain is still constrained by the obligations and responsibilities of an EU membership.
Can the UK rejoin the EU in the future?
In order to enter the EU in the future, the UK would have to start from the beginning. This means that Britain would have to enter accession talks with the EU.
Also, every member state would have to agree to the rejoining.
According to the Prime Minister of the United Kingdom, no deal would be better than the UK signing a bad one. Even though ministers believe that the “no deal” scenario is unlikely, Brexit Secretary David Davis has admitted a thorough economic assessment of this scenario to MP’s.
