Potentially Negative Impacts A period of trade instability The need to write customs legislation as EU legislation is redundant. The UK may choose to adopt the EU current legislation and amend over time. Increased costs as with no FTA’s in…
EU single market: In order to limit any damage to trade the UK will want to start negotiations with non-EU trade partners to preserve any existing level of preferential access UK companies currently get to their markets. Rest of…
The European Council (minus the UK) will agree the terms of the UK’s withdrawal from the EU for a consensus they need to have a ‘qualified majority’ which according to article 218(3) of the functioning of the European Union (TFEU) will require at least 72% of…
Sequence of events: By October the UK triggers Article 50 of The European Union (TEU) The European Council (minus the UK) must then agree by consensus the terms of the UK’s withdrawal. Any agreement will need to have a ‘qualified…