Brexit explained: What's next on the UK's road out of the EU

20 March, 2017, 21:12 | Author: Valerie Burke

The process that begins Britain's exit from the European Union will formally be triggered on 29 March, the British government said Monday.

The move will start the clock ticking on a two-year countdown to Brexit and allow negotiations to start between London and Brussels in the coming weeks.

The European Council's president said on Twitter he will present draft Brexit guidelines to the other 27 EU member states within 48 hours.

But by whom? Perhaps Britain's Ambassador to the EU, Sir Tim Barrow or the Brexit Secretary, David Davis MP? These include getting a good free trade deal.

The European Commission said it stood ready to help launch the negotiations. The EU says Britain must pay a hefty divorce bill of up to 60 billion euros ($64 billion), to cover EU staff pensions and other expenses the United Kingdom has committed to. "We are going to be out there, negotiating hard, delivering on what the British people voted for".

She has been vocal that Britain is heading for a "bad deal" on Brexit and apparently wants out.

The Supreme Court ruled in January that May's government must obtain approval from the British parliament to trigger Article 50, prompting the introduction of emergency legislation. Doing so will end our period of national soul-searching and begin the formal process of divorce. Both sides agree that giving such citizens a guarantee that they will be able to stay where they are is a top priority.

The IFG said such an emphasis on legislation related to legal European Union withdrawal means the British government's domestic agenda will take a hit.

Prime Minister Theresa May has said that she will trigger Article 50 on Wednesday March 29.

The guidelines - a short and broad political document that will outline the principles of the negotiation mandate for the European Union side - are already being prepared by Tusk's office.

The formal process is expected to take two years according to an official table setting out deadlines, which - if stuck to - would see the United Kingdom officially become autonomous in 2019.

"Sterling handed back its gains and turned negative for the day as the market reacted to the announcement - despite the fact it's a known quantity we have to assume that the stark reality of exiting the European Union is hitting home", said Neil Wilson, analyst at ETX Capital.

There is logic to this; if it became clear that it was reversible it would lose its credibility as a one-way ticket out of the club.

Recommended:

  • Drake brings the heat on 'More Life'

    Drake brings the heat on 'More Life'

    United Kingdom rapper Giggs, PARTYNEXTDOOR, Sampha and the long awaited Kanye feature were my personal favorites. They reminded us we are on this Earth for only a heartbeat; there is only loving and being loved.
    USA  opposes United Nations  vote on human rights in West Bank

    USA opposes United Nations vote on human rights in West Bank

    The Obama White House repeatedly denied having any involvement in the drafting of or planning for the resolution. In 2006, 60 percent of the country-specific resolutions passed by the HRC were against Israel.
    Neymar drops huge Man Utd hint after making Mourinho admission

    Neymar drops huge Man Utd hint after making Mourinho admission

    In the 62 minute, Jesse Lingard scored an outside the box goal to give United a satisfying (2-0) lead. Man United is still showing a lot of promise and they are capable of winning more silver wear.
  • Albertsons held preliminary merger talks with Sprouts

    Pitney Bowes Inc. (PBI) have shown a high EPS growth of -25.20% in the last 5 years and has earnings decline of -74.80% yoy. The company reported revenue of $986 million in its fourth quarter of 2016, which was up 6% from the same time past year .

    Article 50 to be triggered on March 29

    Meanwhile, Downing Street denied reports suggesting that ministers were considering a snap election after triggering Article 50. There's also a chance Britain could walk away early without a deal if it thinks the talks are going nowhere.
    'Beauty and the Beast' blasts through box office records with $350m debut

    'Beauty and the Beast' blasts through box office records with $350m debut

    In the film, the attractive Belle is imprisoned in an enchanted castle by a fearsome Beast , who soon falls in love with her. Sung by Watson, the song narrates a new scene in which Belle learns of her childhood and what happened to her mother.
  • Pujara double hundred gives India 152-run lead vs Australia

    With Pujara resuming his batting, a frustrated Steve Smith could just offer a chuckle and walked back to his position. Handscomb's best previous score in the series had been 24 but he was completely composed during his unbeaten knock.
    Schedule Set for Sweet 16 Games

    Schedule Set for Sweet 16 Games

    The Wolverines have won seven straight games, including the Big Ten Championship and Sunday's upset victory over No.2 Louisville . Despite the upsets finally transpiring in the Round of 32, there are still three of the four No. 1 seeds in the tournament left.
    Intel Announces First Optane SSDs for Data Centers

    Intel Announces First Optane SSDs for Data Centers

    That's a far cry from Intel's previous claims of a thousand-fold increase in performance, but the results are still impressive. Intel has stated earlier that these drives will be eight times faster than the ordinary SSDs that are available in the market.
  • Battle for Labour's future is about to intensify

    Battle for Labour's future is about to intensify

    She accused the deputy Labour leader of being part of an "unprecedented pattern of interference" in the Unite leadership contest. He also took aim at Mr Lansman's focus on party control rather than helping Labour win the next General Election.
    'The Dark Tower' New Poster: Stephen King Reveals Topsy-Turvy Art

    'The Dark Tower' New Poster: Stephen King Reveals Topsy-Turvy Art

    Maybe this is just the fanboy in me who's been waiting more than a decade for this movie talking, but. this is a flawless poster. Stephen King's The Dark Tower is the most ambitious and expansive story from one of the world's most celebrated authors.

    FBI Director James Comey confirms probe on Russian interference in U.S. elections

    President Donald Trump walks to the White House after arriving on Marine One, Sunday, March 19, 2017, in Washington. USA intelligence officials have not publicly raised the possibility of contacts between the Clintons and Moscow.


Popular

European Union says 'everything is ready' for Brexit trigger
The Scotland head of state is demanding a second referendum on Scottish independence before the terms of Brexit are signed. We want negotiations to start promptly .

Meals on Wheels Program Will Not Be Eliminated by Federal Budget
But scientific studies have found Meals on Wheels programs are effective in improving nutrition among the elderly. Five organizations administer the Meals on Wheels program in the Houston area , including Interfaith Ministries.

Amid numerous controversies at Uber, disillusioned President Jeff Jones steps down
Jones was hired last August and was in charge of the company's customer support, branding and operations. Uber hired Jones past year from US retail giant Target Corp., where he was chief marketing officer.

Bookies slash odds of snap General Election being called in early May
Some MPs believe Mrs May could announce an early election next week when she triggers Article 50, beginning the Brexit process. There are rumours that the United Kingdom could go to the polls sooner, sparking a flurry at betting shops.

Hoolahan, Clark and Arter join Republic of Ireland's growing injury list
Defenders: Seamus Coleman, Cyrus Christie, Richard Keogh, Alex Pearce, John O'Shea, Andy Boyle, John Egan, Stephen Ward. Ireland will be without six players for Friday night's key Group D clash with Wales in Dublin.