Theresa May Starts the Brexit


Theresa May, British Prime Minister, has signed an official letter that will launch the process of Britain’s withdrawal from the European Union, the BBC reports.

Theresa May starts Brexit
British Prime Minister Theresa May

The letter was written in accordance with Article 50 of the Lisbon Treaty. Today, Sir Tim Barrow, British Ambassador to the EU, will deliver the letter to European Council president Donald Tusk at 12:30 (BST). This moment will become a formal beginning of the Brexit procedure.

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After that, Theresa May will hold a meeting with the Cabinet and then will speak in the British Parliament. In her speech, she will officially inform that the process of Britain’s withdrawal from the EU has begun.

On April 29 EU leaders will hold the summit. The UK will not participate in it. EU leaders are expected to give the European Commission the mandate to negotiate Brexit. Then, the European Commission will release an indicative plan for the negotiations, which will begin in May and June.

According to Article 50, the parties have two years to reach an agreement on the process of the country’s withdrawal from the EU. The parties may also agree to extend this period.

Follow my blog to see how the Brexit will influence the Forex market.

1 Comment

  1. بیگ بنگ چیست says:

    Hi there It’s nearly impossible to find well-informed people about this topic, however, you seem like you know what you’re talking about! gracias

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