Sunday, June 26, 2016

10 ways to leave EU lover; scenarios for Brexit

Stalemate between Britain and the European Union over what happens next following Britons' referendum vote to leave has opened up a host of possible scenarios. Here are some that are (in some cases, barely) conceivable:   1. BY THE BOOK Prime Minister David Cameron, who said he will resign after losing his gamble to end British ambivalence about staying in, agrees with the EU establishment that the only legal way to leave is to use Article 50 of the EU's Lisbon Treaty to negotiate a withdrawal. He wants to leave triggering the process to his successor, who may not be chosen by the Conservative party until October. EU leaders want him to do it now, or at least as soon as possible, but they lack the legal power to force him. In the most amicable divorce scenario, Britain would trigger Article 50, possibly (though unlikely now) as early as Tuesday when Cameron meets the other 27 EU leaders at a Brussels summit, or via a formal letter later from Cameron or his successor. That sets a two-year time limit on negotiating an amicable withdrawal. Ideally, it would divide up assets and liabilities in the shared EU budget and other priority business, such as perhaps the status of British...

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