Published: Mon, March 20, 2017
Economy | By Annette Adams

The UK Is Set To Officially Begin The Brexit Process

The UK Is Set To Officially Begin The Brexit Process

In an attempt to convince fellow United Kingdom nations that their input is vital to the upcoming Brexit negotiations, Prime Minister Theresa May will be starting her tour of the United Kingdom on Monday.

Sterling fell half a cent against the dollar on what Brexit minister David Davis described as a move taking Britain to "the threshold of the most important negotiation for this country for a generation".

British government has officialy notified the European Council president Donald Tusk that Brexit procedure will start at the end of this month.

The UK notified the European Union on Monday of its intention to invoke Article 50 and will now prepare for a lengthy legislative and political program which promises to be anything but clear-cut.

Downing Street has confirmed within past few minutes ruling out an early General Election ahead of Brexit negotiations.

The EU said it was ready to begin the negotiations and within 48 hours of the trigger on March 29, Tusk will send the other 27 member states his draft negotiating guidelines, which means that talks could start in May.

The row comes amid increasing tension between Edinburgh and London over Brexit after Scottish First Minister Nicola Sturgeon announced plans to seek to hold a second independence referendum in the wake of the vote to quit the European Union.

It's not even certain the United Kingdom will survive the exit intact.

She has accused May of failing to engage with her call for Scotland to remain in the European single market after Brexit, and that Scotland risks being taken out of the EU against its will.

May is expected to make a statement to the House of Commons shortly after triggering Article 50. It stipulates that the two sides now have until March 2019 to agree on a divorce settlement and - if possible - establish a new relationship between Britain, the world's No. 5 economy, and the European Union, a vast single market containing 500 million people.

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