Theresa May to trigger Brexit on Mar 29
- Author: Leroy Wright Mar 20, 2017,
Mar 20, 2017, 23:30
Theresa May's letter officially notifying the European Council of the UK's intention to quit will set in motion a two-year negotiation process expected to lead to Britain leaving the EU on March 29, 2019.
President of the European Council Donald Tusk has said he will issue draft Brexit negotiating guidelines to the other member states within 48 hours of the United Kingdom triggering article 50; in other words, before the end of next week.
The contents of the letter which will be sent to formally trigger article 50 on March 29th are unclear.
The historic start of the process, 44 years after the United Kingdom joined the EEC in 1973, will trigger a two-year countdown for negotiations over the exit terms and any interim trade deal.
EU Commission spokesperson Margaritis Schinas said everything is ready for the next steps after Article 50 has been triggered.
That summit will draw up a mandate for the European Commission's chief negotiator, Michel Barnier, probably allowing talks to begin in earnest in May.
"The Great Repeal Bill will end the authority of European Union law and return power to the UK".
THERESA May is set to trigger Article 50 next Wednesday which will fire the starting gun on two years of Brexit talks.
May will address MPs in a statement to the House of Commons following her regular weekly session of prime minister's questions on March 29.
The Scotland head of state is demanding a second referendum on Scottish independence before the terms of Brexit are signed. The draft is broadly ready, based on what May said in a key speech in January, but may need to be fine-tuned, European Union officials say.
"It's fascinating that the pound sunk quite so quickly as we knew the end of March was the preferred date".
Britain is also likely to be slapped with a hefty divorce Bill before talks start - and over the weekend the European Council President said the PM could be forced to walk out if she doesn't pay up.
Britain's exit negotiations are expected to be exceptionally tricky, with the country aiming to leave Europe's single market and customs union but hoping to retain preferential access to both through a new trade agreement.
These are among the findings of an 18-page report released on Monday by the Institute of Government that examined what it called the "huge burden" Brexit will place on lawmakers and government departments to pull off the biggest peacetime challenge the country has faced.
The London Mayor has previously suggested a lack of an interim European Union trade deal could cause "colossal damage" to Britain - a statement rejected by Ruth Lea, co-founder of Global Vision, an anti-EU campaign.
"The taoiseach has previously expressed impatience over the lack of clarity from Britain on Brexit", said Mr Adams.
However, the negotiating game will now begin, and attention will be paid to whether there is any reaction on foreign exchange markets in particular, with sterling tending to weaken on any indications of a hard Brexit.