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Financial News: UK PM Theresa May To Trigger Article 50

UK PM Theresa May To Trigger Article 50 On March 29

03/20/2017 - 09:01:00 (RTTNews)

(RTTNews) - British Prime Minister Theresa May will invoke the Article 50 of the Lisbon Treaty next Wednesday, March 29, thus formally beginning the process of exiting the European Union.

UK's Ambassador to the EU Tim Barrow informed European Council President Donald Tusk of the the government's intention to trigger Article 50 earlier on Monday, Brexit secretary David Davis said in a statement.

Responding to the announcement, Tusk said he will present the draft Brexit guidelines to the EU27 member states within 48 hours of the UK triggering Article 50.

In the referendum held on June 23 last year, 52 percent of Britons voted to leave the EU in a historic and surprise move.

Negotiations on a wide range of topics from single market access to migration and citizen rights should conclude in two years.

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