The EU will not conduct any negotiations with the United Kingdom before receiving formal notice of its withdrawal from the community in accordance with Article 50 of the Lisbon Treaty, TASS reports, referring to the representative of the European Commission, Margaritis Shinasa. The Treaty of Lisbon, adopted in 2009 on the initiative of the UK, provides an article about the possibility of exit from the Union for the first time in the history of the EU. The article provides that all the details of the separation of powers and formation of the new relationships after exiting the EU must be completed within two years after the official notification to the EU Council by the government of that country.
Margaritis Shinas
Meanwhile the chief editor of the journal Politics First, Marcus Papadopoulos, believes that Brexit will have huge implications in terms of politics and in terms of economics not only for the UK, but for the whole world. "There is a misconception that politicians will be engaged in the process of exit from the EU. In fact, the public authorities will deal with it. The UK has a very effective bureaucracy, and this possibility has been worked out for a long time.’’ Last year the share of the UK in the EU budget revenues amounted to 12.9%. The European Commissioner for Regional Policy from Romania, Corina Cretu, has estimated that the EU budget could be reduced by 15% as a result of Brexit after 2020.
Papadopoulos believes that the future of the UK economy is also unclear, but everything is clear regarding the political future: "The Scots want to remain in the EU. It is likely that there will be another referendum on independence, and it is likely that Scotland will vote for independence from the United Kingdom. It will change not only the borders of the EU, but also the UK’s borders. Northern Ireland, where the majority of voters supported the preservation of membership in the European Union, can leave the UK following Scotland. Over time, the outlines of the UK will be very different from today’s."
