The British Prime Minister Theresa May has signed the Brexit letter to invoke the Article 50 of the Lisbon Treaty last evening and the letter is on its way to Brussels to the President of the European Council Donald Tusk. The official Article 50 exit process is due to begin on Wednesday after 1:30 pm Brussels time (11:30 am GMT), when the Britain’s Ambassador to the EU, Tim Borrow is expected to hand over the letter to the Council President Donald Tusk.
While both sides have agreed to cooperate with each other, Prime Minister May has cleared that she is ready to walk out without a deal if an agreeable one can’t be reached. The EU, on the other hand, has said that it doesn’t want to punish the UK over Brexit but a new deal would be an inferior one compared to the full membership. Mrs. May has also indicated that she plans to take back the immigration control from Brussels as well as jurisdiction away from the European Court of Justice. However, reports are coming out that the UK government might soften its rigid stance on the matter.
The talk is likely to start in troubled waters as the European Union is planning to hand over Britain an exit bill amounting to as much as €60 billion. According to the Article 50, the current relation between the UK government and the EU would cease to exist after two years from the date of the triggering if the timeline is not extended by a unanimous voting by the member countries.