The Brexit complexity

Peck, Frank (2017) The Brexit complexity. In Cumbria Magazine, 2017 (April). p. 31.

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Abstract

Professor Frank Peck of the University of Cumbria’s Centre for Regional Economic Development writes for in-Cumbria on the big issues of the day and the economic data behind them. This month, a business response to Brexit - forewarned is forearmed? As I write, it is Wednesday, March 29 – Brexit trigger day. When Article 50 of the Lisbon Treaty was drafted, few would have anticipated the circumstances in which these clauses would be tested. Contrary to what you might expect, it does not take long to read - it can be printed easily on half a page of A4. It starts by asserting the right of sovereign States to withdraw from the Union if they so wish and the requirement to notify the European Council of this intention. Article 50 continues… “…the Union shall negotiate and conclude an agreement with that State, setting out the arrangements for its withdrawal, taking into account the framework for its future relationship with the Union” This clause in the Treaty clearly links the conditions for withdrawal with the nature of the future relationship, but does not specify the precise sequencing of these discussions. Negotiations are likely to begin very soon – in May or June 2017 – with the aim to complete these by October 2018. Then the agreements reached will be subject to democratic vote in the UK and European Parliaments. So why should buisnesses in Cumbria become animated by nuances in Article 50 of the Lisbon Treaty? It is fair to say that these discussions will include matters that are likely to have fundamental impacts on the environment within which all Cumbrian businesses operate – either directly or indirectly.

Item Type: Article
Journal or Publication Title: In Cumbria Magazine
Publisher: CN Group
Departments: Centre for Regional Economic Development (CRED)
Depositing User: Anna Lupton
Date Deposited: 16 Mar 2018 11:10
Last Modified: 16 Mar 2018 20:49
URI: http://insight.cumbria.ac.uk/id/eprint/3685

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