On March 29, 2017, Britain’s Prime Minister, Theresa May, began the official process for Britain to exit the European Union (EU), by triggering Article 50 of the Treaty of Lisbon. Article 50 is an agreement that became law in 2009, after being signed by all EU states, which lays out the process for a country to leave the EU.
As stated in Article 50, after a member country has notified the European Council of its intent to withdraw from the EU, they have two years to reach an agreement on the terms of the departure. An extension of this two year limit can also be granted if agreed upon by the remaining 27 member states.
Additionally, 65% of the EU member states must approve any agreement before it can be ratified by the European Parliament.
The article on Brexit can be accessed at:
http://www.economist.com/blogs/graphicdetail/2017/03/daily-chart-21?fsrc=gnews
Additional information on Brexit can be viewed at:
