“BREXIT TERMINATION CLAUSE FROM EUROPEAN UNIONS (EU)”
Introduction:
The EU is an economic and political union involving 28 European countries. It allows free trade and free movement of people to live and work in whichever country they choose. The UK joined in 1973 when it was known as the European Economic Community and have been a member of EU ever since until 2016, where a referendum was held to decide whether the UK should remain or leave the EU and the result was latter in which case the Government of United Kingdom triggered Article 50 of the Treaty on European Union (TEU) to begin the UK’s withdrawal from the EU in March 2017.
Article 50 of TEU:
This article states the procedure for a member country to withdraw voluntarily from the EU which is as follow:
Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements.
A Member State which decides to withdraw shall notify the European Council of its intention. In the light of the guidelines provided by the European Council, the Union shall negotiate and conclude an agreement with that State, setting out the arrangements for its withdrawal, taking account of the framework for its future relationship with the Union. That agreement shall be negotiated in accordance with Article 218(3) of the Treaty on the Functioning of the European Union. It shall be concluded on behalf of the Union by the Council, acting by a qualified majority, after obtaining the consent of the European Parliament.
The Treaties shall cease to apply to the State in question from the date of entry into force of the withdrawal agreement or, failing that, two years after the notification referred to in paragraph 2, unless the European Council, in agreement with the Member State concerned, unanimously decides to extend this period.
For the purposes of paragraphs 2 and 3, the member of the European Council or of the Council representing the withdrawing Member State shall not participate in the discussions of the European Council or Council or in decisions concerning it.
If a State which has withdrawn from the Union asks to rejoin, its request shall be subject to the procedure referred to in Article 49.
Once a member notifies of its intention to leave, a period begins during which a withdrawal agreement is negotiated, setting out the arrangements for the withdrawal and future relationship of the State with the EU. This is to be done in two years after which even if there is no deal or no arrangement made. The state ceases to be member of the EU, although this period can be extended by unanimous agreement of European Council .
The leaving agreement is negotiated by the European Commission on behalf of EU. That agreement needs to be approved by the Council of EU by qualified majority, after obtaining the consent of the European Parliament. For the agreement to pass the Council of EU. It needs to be approved by at least 72 percent of its member states.
In case, the EU and the leaving member state doesn’t reach an agreement, EU Treaties shall cease to apply to the seceding country, without any substitute or temporary arrangements being put in place. As regards trade, the parties would likely follow World Trade Organization rules on tariffs.
