United Kingdom to Trigger Brexit on 29 March, European Commission Ready

Cornelia Mascio
Marzo 20, 2017

A spokesman said the government wants negotiations to start as soon as possible but added that they "fully appreciate it is right that the other 27 European Union states have time to agree their position".

But such negotiations will be complex and the two-year deadline might not be enough.

Britain is to trigger the process for leaving the European Union on March 29, it was announced Monday by 10 Downing Street. As a result, United Kingdom officials have already approached the World Trade Organization to see what they can do in case they cannot reach a deal within the two-year deadline. They include putting issues like continuing working together on issues like security at the core of what we are doing.

While the United Kingdom economy and financial markets have survived the period since the Brexit vote better than expected, the actual start of negotiations and the highlighting in the months ahead of the many hard issues to be sorted out are likely to challenge economic and market sentiment. A response from the group is expected in around 48 hours after the UK's notification, according to European Commission negotiator Michel Barnier.

The move comes nine months after Britain voted 51.9 per cent to 48.1 per cent in favour of Brexit in a referendum on June 23, 2016.

Mrs May is expected to make a statement to the House of Commons shortly after invoking Article 50.

Margaritis Schinas, the European Commission's chief spokesman, said: "We are ready to begin negotiations".

It states that any exit deal must be approved by a "qualified majority" (72% of the remaining 27 European Union states) and must also get the backing of MEPs.

The UK's Brexit secretary David Davis said: "We are on the threshold of the most important negotiation for this country for a generation".

"They will all see from the UK's example that leaving the European Union is a bad idea", Juncker told German newspaper Bild am Sonntag.

Jeroen Dijsselbloem, president of the finance ministers of the 19-country euro currency area, said he wanted "realism" from May's government.

The bill to be introduced later this year will serve the dual objective of repealing the European Communities Act and incorporate more than four decades of EU law into British law.

"Brexit will place a huge burden on both Parliament and Government departments", the report warns. The prime minister's spokesman declined to give further details of the content of the letter, but senior government officials familiar with the government's thinking expect it to set out a "positive" vision of the future relationship Britain wants with Brussels after Brexit, including a comprehensive free trade agreement.

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