UK votes Brexit: What happens now?
Brexit 06/24/16

UK votes Brexit: What happens now?


The road ahead is unclear. No state has left the European Union before, and the rules for exit – contained in Article 50 of the Treaty of Lisbon – are brief.

How long would it take to leave the EU?



It would take a minimum of two years for the UK to leave the EU. During that time Britain would continue to abide by EU treaties and laws – however it would not take part in any decision making.

What will happen during that time?

 


The UK would have to thrash out the terms of its departure. Issues would include what financial regulations would still apply to the City of London, trade tariffs and movement rights of EU citizens and UK nationals.


The agreement would have to be ratified both by the European council and the parliament in Strasbourg.

How would Brexit impact the EU?

 


Some people in the EU community believe that Britain quitting its membership could encourage other nations to follow suit with referendums of their own – or demand tailor-made deals of their own.


Contact Gibson Accounting for help with planning for growth and stability over the coming months and years


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