News Worms
News Worms


UK PM Theresa May to trigger Brexit on March 29

UK PM Theresa May to trigger Brexit on March 29

Opposition Labour leader Jeremy Corbyn said his party accepted the Prime Minister had a mandate to start the process of leaving the EU.

Mrs May's spokesman also rejected reports that an early election might be held, saying: "It's not going to happen".

The European Commission (EC), whose chief negotiator Michel Barnier will spearhead the talks with London, said it is ready for the Brexit process.

"We wish the talks to begin promptly, but we fully respect that the 27 (other European Union nations) will want to agree their position in advance", the spokesman said.

The British government confirmed that it would trigger Article 50 on March 29th, 2017.

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

Scotland and Northern Ireland voted to stay in the European Union in the Jun 23 referendum, while England and Wales voted to leave, resulting in a UK-wide vote of 52 per cent for Brexit.

A UK Government spokesperson said: "The UK has not yet invoked Article 50".

The EU is expected to release an initial response to the Article 50 notification within 48 hours. Under this scenario, talks are likely to begin in earnest in May.

Some in the European Union argue that the divorce must be finalised first - including the contentious issue of Britain's outstanding bills, which European Union officials have estimated at 60 billion euros. "There is a timetable that everyone has bought into it".

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We expect it will be a two-year process and we are confident that is what we will achieve.

It warns that this will mean ministers having to achieve a fine balancing between giving too little parliamentary scrutiny or too prolonged, in-depth examination to Brexit-related legislation. But EU leaders, anxious to avoid encouraging others in the 28-member bloc to split, have said they will not give May an easy ride.

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. 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.

"Theresa May has repeatedly said that she wants to build a national consensus on Brexit, but it is increasingly clear she has failed to do so".

Prime Minister Theresa May had already pre-announced the action back in October.

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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. Mrs May is not attending the event.

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