Brexit: Article 50 Has Been Executed, How Next? (Part-2)

Brexit: Article 50 Has Been Executed, How Next? (Part-2)

This article is a continuation of the previous article entitled Brexit: Article 50 Has Been Executed, How Next? (Part-1). The article which is divided into two parts discusses what will happen next which is a series of Brexit from the start of the Article 50 of the Lisbon Treaty to the end of the negotiation period for the next two years.

What Will Be Discussed In Negotiations?

The letter written by PM Theresa May to European Council President Donald Tusk included the following outline:

  • We should discuss with each other constructively and respectfully, in the spirit of cooperation
  • We should always prioritize the interests of the people
  • We should work together to reach a comprehensive agreement
  • We must work together to minimize disruption and provide as much certainty as possible
  • We must pay attention to the unique relationship between England and Ireland and the importance of the peace process in Northern Ireland
  • We should start technical talks about detailed policy areas as soon as possible, but we must prioritize the biggest challenges
  • We should continue to work together and protect European interests

The UK said that trade agreements must be part of negotiations, while EU representatives thought that the talks should be discussed separately.

Other issues that might be discussed are those relating to cross-border security arrangements, removing EU agencies that have headquarters in the UK and UK contributions to EU civil servant pension funds; and that is an agreement that according to some reports can cost up to 50 billion pounds.

The British Government has published a report before the referendum in 2016 on the process of resignation from the European Union. In the report also presented things that could be debated.

Who Will Negotiate?

The European Commission has formed a work unit headed by Michel Barnier, who will be responsible for negotiating with the UK.

From the British side, in general the responsibility for this negotiation will be handled by the prime minister directly, supported by the European Union’s Department of Exiting led by David Davis.

What if there is no agreement in two years?

As illustrated in the infographics contained in the previous article, the UK will remain out of the European Union and its trade relations with other countries (especially European Union members) will be regulated in accordance with the rules that apply in the World Trade Organization.

Some ministers are of the opinion that there may be a transition period as soon as Britain officially leaves the European Union.

Will Parliament Also Speak?

Article 50 states that any agreement must be approved by the European Parliament, but does not regulate the approval of the state parliament that will come out.

Even so, PM Theresa May said in January that the House of Commons and the House of Lords would vote on the agreement reached. The British Parliament will examine the agreement reached by the government through parliamentary debates, elect work committees and vote on proposed legislation.

During the negotiation process, the UK will remain a member of the European Union, but no longer has the right to be a leader in the European Council to concentrate on the Brexit process. The election of the head of the European Council itself is scheduled to be held in the second half of 2017.

Can the UK Do Trade Negotiations with Other Countries?

No, because after all Britain is still a member of the European Union so it cannot freely trade negotiations with other non-EU countries.

However, it will still be possible to conduct general discussions about trade and potential trading partners who are interested in the negotiation process.

Read more : Brexit: Article 50 Has Been Executed, How Next? (Part-1)

author
Forex Signal 30 is the best forex system since 2009 and has been used by thousands of traders from around the world to generate profit in forex trading. This system is created by our team of Brilliant Forex Signal Team, this system is made as simple as possible for beginner and professional traders.
No Response

Leave a reply "Brexit: Article 50 Has Been Executed, How Next? (Part-2)"