Spotlight: Brexit

On 23 June 2016, the British decided in a referendum to withdraw from the EU. Great Britain had formally submitted its resignation request on 29.03.2017 and should therefore no longer be a member of the Confederation of States as of 29.03.2019 in accordance with Article 50 TEU.

Since then the Brexit has already been postponed twice and determines the public discussion in Great Britain and the 27 remaining EU member states. In particular, the framework conditions for the withdrawal and relations with the EU after the withdrawal of the Kingdom are unclear. A Withdrawal Agreement, which was intended to allow the United Kingdom to withdraw in an orderly manner from the Customs Union, the Internal Market and the political and administrative institutions of the European Union, was rejected by the British Parliament.

If no agreement is reached, a "hard brexit" is the consequence. The economic and financial consequences are not foreseeable.

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