- British MPs has rejected Prime Minister’s EU Brexit deal for a third time, opening the way for a long delay to Brexit or a potential no deal withdrawal by April 12.Britain had to leave the EU on March 29,2019 but UK PM had asked European Union to extend the deadline.
- The EU has now set a deadline for April 12 for a decision on Brexit.The two likely options are (a)Britain leaves the EU with no deal at all or (b)It agrees for a lengthy extension to allow time for a new approach.
- Article 50 of the Treaty of Lisbon gives any EU member state the right to quit unilaterally and outlines the procedure for doing so.It gives the leaving country two years to negotiate an exit deal.UK triggered Article 50 in 2016.
- Brexit is a term used to define United Kingdom coming out of EU.During a referendum in 2016,UK voted by a narrow margin in favour of Brexit.
- European Union is a political and economic union of 28 member states. A monetary union was established in 1999 and came into full force in 2002 and is composed of 19 EU member states which use the euro currency.The EU and European citizenship were established when the Maastricht Treaty came into force in 1993.
