Will we finally see “Brexit” begin this month?
When then-British Prime Minister David Cameron delivered a referendum on the UK’s continued membership in the European Union (EU) to the British public, he promised that – in the eventuality of a “leave” vote – he would trigger article 50 instantly. For whatever reason, that did not happen, and Mr. Cameron (who campaigned to “remain” in the union) opted to step down and leave the task to his successor instead. That successor is Theresa May, and she could take the UK out of the EU as early as this month.
Post-Brexit referendum, British politics entered a turbulent time that many observes would claim is ongoing. A short and relatively painless Conservative Party reshuffle saw Theresa May become the UK’s unelected Prime Minister, beholden to her predecessor’s promise to take Britain out of the EU. And a gaggle of senior politicians on both sides of the house had to balance their own trepidation at leaving the block against the will of the people that put them there.
Unsurprisingly, against this backdrop, the perception was the Brexit could become a long and tedious affair, with many commentators suggesting we were a decade away from the separation.
However, Ms. May has been resolute from day one that her government will trigger article 50, and that they will do so quickly. It appears she was being honest.
According to Bloomberg, which cites an anonymous European union diplomat, there are signs that the UK government will invoke article 50 following a summit of EU leaders scheduled in Rome for March 25.
“Prime Minister Theresa May has said that she’ll trigger Brexit negotiations by the end of this month, but her timetable for giving official notice of the U.K.’s intention to leave the EU is constrained by events. First, she must wait for the relevant bill to pass parliament, probably next week. She is unlikely to want to clash with the Dutch election on March 15, or with the Scottish National Party’s conference on March 17-18.”
According to Ms. May’s spokesman, James Slack, the triggering of Brexit is “absolutely” on course for later this month.
The opinions in this article do not reflect those of Dominion Fund Management Limited, and in the instance of any forward-looking statements, these should not be construed as advice.
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