Last week, a referendum held in Britain decided that the country will no longer be a part of the European Union. The news was met with terrible consequences the minute it was announced. Stock markets around the world crashed, Great Britain Pound devalued, even the UK PM resigned. But after all of that, it would seem that there may not be a formal divorce process between the EU and Britain. At least that is the popular opinion of several diplomats over the matter. One senior diplomat stated,
My personal belief is they [Britain] will never notify the EU about their intention to leave.
Any state to leave EU must formally notify the European Council of all the 28 leaders under Article 50 of the 2007 Lisbon Treat. The diplomat added,
We want London to trigger Article 50 no2, to have clarity. I expect, as we can’t force them, for them to take their time… And I would not exclude, it’s my personal belief, that they may never do it.
Menace of Britain leaving the EU is already showing up in several industries, including sports, as evident in Euro 2016. It is quite possible that London may either hold a new referendum, or otherwise delay the divorce to an excruciating period of time so as to get a better deal. Apparently, citizens of the United Kingdom have already started regretting their decision, those that voted ‘leave’. According to the diplomat the European Union was receiving several emails from Britons since Friday saying they were unhappy with the results, including few of those that voted leave. At any rate, negotiations for UK’s withdrawal from the EU cannot be expected to begin until a formal notification is presented by Britain under the aforementioned Article 50.You can follow us on Facebook, Twitter, or Google+ for more updates. Otherwise fill in the subscription box above, or subscribe to our RSS Feed.