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Brexit - All You Need to Know
Many small and medium-sized firms are likely to welcome a cut in red tape and what they see as petty regulations. Portends well for the U.S., I suppose. What happens now? There are no immediate changes to laws. An agreement called Article 50 of the Lisbon Treaty, which begins the two-year process of negotiating a new trade relationship with the EU, has to be activated in order to set in motion the process of leaving the EU. Negotiations would then begin in Brussels on the terms of the UK's exit and the nature of its subsequent relationship with the EU. A lot of interesting stuff, many questions answered. For instance - Has any other member state ever left the EU? No nation state has ever left the EU. But Greenland, one of Denmark's overseas territories, held a referendum in 1982, after gaining a greater degree of self government, and voted by 52% to 48% to leave, which it duly did after a period of negotiation. Posted by: Bobby 2016-06-24 |
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