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Main » 2016 » October » 3 » Britain will leave the EU has until 2019: euro reaction
Britain will leave the EU has until 2019: euro reaction


Britain will leave the EU has until 2019: euro reaction

 On «Brexit» The action plan is ready, according to the government. 

On Sunday, British Prime Minister Theresa May said that the formal country exit process from the  European Union  will begin before the end of March 2017. This means that the so-called «Brexit» already can occur in 2019.



This message caused the fall in the value of the British pound to 3-year low against the euro and a 3-month low against the dollar on Monday.

In an interview with Andrew Marr on BBC Ms. May said: "The British have made their choice, now it's our turn to act." UK initiates Article 50 of the Treaty of Lisbon in the first quarter of next year, she said. This will be the start of a two-year process of secession.

The cost of the British pound fell by more than 1% against the dollar to 1.2845, which is only half a cent higher compared with the 31-year low reached in early July. The third quarter was the worst for the currency since 1984.

Against the euro, the pound fell in value by 1% to 0.8748 that is the minimum in August of 2013.

British Prime Minister stressed that the new agreement between the United Kingdom and the EU after the «Brexit» will not be anything like a model unit of relations with Norway or Switzerland. As is known, these countries belong to Europe, but not part of the EU.

"This is an agreement between independent sovereign state and the EU", - she explained. It may also added that there is no such thing as a choice between "soft" or "hard» Brexit.



Based on materials WELTRADE

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