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emfizz.com March 23, 2017


Brexit process to begin by end of March

21 March 2017, 12:43 | Jan Cross

A third of European firms to cut investment due to Brexit

Families and businesses could be subject to national rules across 27 other member states the peers said

But it's unclear whether Article 50 is legally reversible.

Britain voted by a 52 per cent majority to leave the European Union - the first member state ever to do so.

What does it actually say?

The basics are covered, however. This is what May will do on March 29.

The country that wants to leave would not negotiate directly with other member states to reach a deal on how it would leave.

Detailed discussions between Britain and the 27 will get underway in May.

"No deal for Britain is better than a bad deal for Britain", May said during a January speech.

Of the options, Muscat said that his preference was for Europe to determine the conditions of the UK's exit before determining UK-EU relations after that. However, if all European Union member states agree, that deadline could be extended.

Why trigger Article 50 now? There were further complications, however.

Stephen Adams of the Global Counsel advisory group said the problem with Article 50 "is not that it is complicated but that it is relatively simple".

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Inflation in the United Kingdom continues to soar, hitting 2.3% in February
The figure will put pressure on the Bank's Monetary Policy Committee to hike interest rates beyond 0.25% this year. Analysts are looking for a reading of 2.1% to be released, a notable increase on the previous month's 1.8%.


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The case went all the way to the Supreme Court, which ruled that May needed the backing of both the House of Commons and House of Lords to proceed.

In a press conference, Margaritis Schinas, said, "The first step after the notification will be the adoption of guidelines by the European Council".

The report comes as Theresa May travels to Swansea with Brexit Secretary David Davis, where she will talk about the "precious union" of the UK. According to new report from the House of Lords that circulated last week, a deal to avoid trade tariffs with the European Union after Brexit will be "imperative" as the United Kingdom seeks to safeguard its long-term future. "There will need to be a longer time for the U.K.to dismember itself from the EU and a transition deal can include all exit issue plus trade", Fredrik Erixon, director of the European Centre for International Political Economy told CNBC via email.

What else will Britain have to do? Experts suggest these separate negotiations could take years.

Speaking to the press in Brussels, the Irish finance minister Michael Noonan said negotiations would not get underway for two months following the Article 50 triggering. However, it is the subject of some controversy as it may rely on little used power known as the "Henry VIII clauses".

The Scottish government, which wants a second independence referendum, complained it had not been informed of the announcement in advance.

So will Britain be out of the E.U.by March 2019?

The extra measures will place "a huge burden" on the Parliament and government departments, the think tank said.

Critics argue it would be "impossible" for any agreement to be struck within the 24-month timescale due to the complexity of the negotiations. Such a transitional deal would allay fears about an impending cliff edge in March 2019, when Britain is set to crash out of the single market and face the EU's steep external tariffs on goods ranging from meat to cars. "And time in this case is everybody's enemy, including the European Union, because two years is not long to get an agreement of this kind". Britain joined in 1973 but has always been a somewhat reluctant member, with a large contingent of euroskeptic politicians and journalists regularly railing against regulations imposed by the EU's headquarters in Brussels.



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