UK to initiate and submit Article 50 for Brexit by end of month
On March 20, a spokesperson for Britain’s Prime Minister Theresa May announced that the government would be submitting paperwork to initiate Article 50 on March 29 to fulfill the will of the people in exiting from the European Union.
Nine months after the voters in the UK went to the polls and said yes to a Brexit from the EU, the island nation is now on the verge of becoming the first country to break away from the oligarchy that has become the continental union, and open the door for other nations to follow if they have the political will to do so.
It appears that the long-awaited Article 50 trigger, officially beginning the Brexit process, will take place next Wednesday, March 29, because moments ago a Theresa May spokesman confirmed a report in the UK’s CityAM, reporting that Article 50 will be triggered next Wednesday.
- U.K. TO TRIGGER BREXIT ON MARCH 29, MAY’S SPOKESMAN SAYS
Britain‚Äôs ambassador to the EU Tim Barrow told the office of European Council President Donald Tusk
that Britain will trigger Article 50 of the Lisbon Treaty, Mrs. May‚Äôs
spokesman said. He said he expects talks to begin promptly, but that the
U.K. understands the 27 EU countries will want time to deliver their
response. Slack said that ‚Äúafter we trigger, the 27 will agree their guidelines for negotiations and the Commission‚Äôs negotiating mandate‚ÄĚ and added that ‚Äúpresident Tusk has said he expects an initial response within 48 hours. We want negotiations to start promptly‚ÄĚ
EU Council president Donald Tusk is now expected to respond formally in the next two days, although the detailed EU negotiating position is not expected to emerge until later in the spring. – Zerohedge
60 plus years after a German industrial region and a French resource region came together to form a coalition that would eventually morph into what we know today as the European Union, the original scope of a trade pact meant to help restore Europe following the destruction of World War II has now turned into a political oligarchy where member states are virtual slaves to the European Commission in Belgium, and national sovereignty is being stolen from them one debt agreement at a time.
The UK was fortunate in the fact that they had always retained their own sovereign currency despite the creation of the Euro, and is better prepared than most to exit from the EU. ¬†And with economic data showing that Europe is on the cusp of a new severe financial crisis, getting out now may end up being the most prudent thing Britain has done in decades to ensure the safety of their own state, and to get a jump start in forging new alliances as the global financial world moves from West to East.
Kenneth Schortgen Jr¬†is¬†a writer for The Daily Economist, Secretsofthefed.com,¬†Roguemoney.net, and Viral Liberty, and hosts¬†the popular youtube podcast on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.