European Union Parliament leader Martin Schulz has called for Britain to leave the EU as soon as possible, contending he doesn’t want to prolong geopolitical and economic uncertainty any longer than necessary. But that might be a pipe dream.
The people of Britain have voted for the Brexit, but a lot needs to happen before it becomes reality. Some bet it will never happen, and they’re not totally delusional. The EU referendum is not legally binding and could even be reversed.
In order for the UK to leave the EU, it would have to exercise something called Article 50 of the Treaty of the European Union. Article 50 establishes the process for a member-state to leave the EU.
Article 50 states that the prime minister of the UK would have to (1) formally tell the European Council the UK intends to leave. (2) Next, The European Council will have to meet and come to an agreement on how it will let go of the UK. (3) The European commission will then negotiate these terms with the UK and come to an agreement. (4) Once a deal is reached, both the European Council and Parliament will have to agree to it.
The EU gives two years to do all of this — but also allows for the process to be extended indefinitely. A member-nation has never tried to leave the EU before, so an extension may indeed be necessary to give everybody time to navigate the uncharted waters.
Before the two-year timeline begins, the UK Parliament will need to authorize the prime minister to trigger Article 50. Current PM David Cameron has said the UK won’t move now to trigger Article 50, and even Boris Johnson — former London mayor, assumed Conservative candidate and very vocal Brexit proponent — has said the UK shouldn’t rush to break up from the EU.
If the UK stalls long enough before triggering Article 50, a couple of different things could happen:
UK could have yet another Brexit referendum
In a sign that voter “Bregret” could gain some traction, over 3 million Britons have signed a petition calling for another referendum on Brexit. A brand-new referendum that has the opposite outcome could help restore the legacy of Cameron, who staunchly opposed Brexit.
Call for a general election
The conservative party is already divided over the Brexit; if this divide is enough to split the party a general election could be called. Right now the next general election is slated for May of 2020. If, however, two-thirds of Parliament (including vacant seats) agrees to a new election, the UK could end up with a Labour Party majority that could take its election as a mandate to forget about the Brexit.
Telegraph columnist Juliet Samuel has written that a new general election is “the only answer” for a nation that’s so divided. “The only way to decide how we move forwards is with the tried and tested method of the institution at the heart of the Brexit campaign: our parliamentary democracy,” she wrote. “We must have a General Election; we must see our leaders come forwards with their best effort at a thoughtful plan for the future; we must see new leaders emerge.”
. Courtesy: Yahoo.com