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Brexit: May will trigger article 50 on March 29th

21 March 2017, 12:07 | Taylor George

Lib Dem leader Tim Farron said the Prime Minister is 'embarking on an extreme and divisive Brexit'

Liberal Democrat spring conference

The UK's Ambassador to the EU, Sir Tim Barrow, informed the European Council earlier on Monday of the date that Article 50 would be triggered.

The notification of triggering Article 50 of a key European Union treaty will come in the form of a letter delivered to Tusk - though it was unclear whether it would come through an actual letter or an electronic missive.

75 percent of the respondents said that they have business investments in the United Kingdom and more than half of them said that they would respond quickly to the changes in business investment due to Brexit negotiations.

Although Great Britain's decision to leave the European Union was thrown into political turmoil following a High Court ruling last November, the so-called "Brexit" will move forward next week.

"Everything is ready on this side", Margaritis Schinas, the chief spokesman for the European Union executive, told a regular news briefing.

That summit will draw up a mandate for the European Commission's chief negotiator, Michel Barnier, probably allowing talks to begin in earnest in May.

He said: "Next Wednesday, the government will deliver on that decision and formally start the process by triggering Article 50".

"We think the imminent activation of Article 50 will trigger hard trade negotiations, which is not properly priced into the currency", Michael Cahill, New York-based strategist at Goldman Sachs, wrote in a note to clients.

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Of the United Kingdom's four nations, Scotland and Northern Ireland voted to stay in the European Union in the June 23 vote while England and Wales voted to leave.

May will meet First Minister of Wales Carwyn Jones, as well as local businesses, as she tries to show she is including all areas of Britain in negotiations with the EU.

Mr Farron repeated his call for voters to have the final say on the deal negotiated by Mrs May, arguing that departure from the European Single Market was not on the ballot paper in June.

However, Nicola Sturgeon's demand for a second independence referendum in Scotland last week - coupled with the delay in getting the Article 50 bill through the House of Lords - limited the government's choices.

Scottish Government minister Michael Russell complained that the UK Government "somehow forgot to inform" the devolved administrations of the timetable for Article 50, leaving them to hear about it from the media.

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But May has repeatedly ruled out an early vote, and on Monday her spokesman told British journalists that there was "not going to be one". The EU wants Britain to pay a hefty divorce bill - estimates have ranged up to 60 billion euros ($64 billion) - to cover pension liabilities for EU staff and other commitments the United Kingdom has agreed to.



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