PanARMENIAN.Net – Prime Minister Theresa May will file divorce papers to leave the European Union on March 29, launching two years of complex negotiations that will pit the U.K.’s need for a trade deal against the bloc’s view that Britain shouldn’t benefit from Brexit, Bloomberg reports.
More than 40 years after the U.K. joined the EU and nine months since it voted to quit it, Britain’s envoy to the bloc, Tim Barrow, informed EU President Donald Tusk on Monday, March 20 of her plan to invoke Article 50 of the Lisbon Treaty, the mechanism for quitting that has never been used.
At stake in the looming talks is whether Britain — the world’s sixth biggest economy — can regain powers over immigration and lawmaking without derailing trade with its largest market or threatening London’s status as the region’s leading financial center. England’s 310-year-old union with Scotland is also in jeopardy, while the border separating Northern Ireland — a U.K. province — from the Republic of Ireland could become a hard one.
Full story: panarmenian.net
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