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posted by on Thursday March 30 2017, @07:14AM   Printer-friendly
from the Brexit-Means-Brexit dept.

http://www.bbc.com/news/uk-politics-39431428

The UK Government has officially notified the EU that they are invoking Article 50. This begins the 2-year timer for the UK to leave the EU.

In a statement in the Commons, [Prime Minister Teresa] May said: "Today the government acts on the democratic will of the British people and it acts too on the clear and convincing position of this House."

She added: "The Article 50 process is now under way and in accordance with the wishes of the British people the United Kingdom is leaving the European Union.

"This is an historic moment from which there can be no turning back."


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  • (Score: 1, Insightful) by Anonymous Coward on Thursday March 30 2017, @05:08PM

    by Anonymous Coward on Thursday March 30 2017, @05:08PM (#486594)

    Several other EU members are at breaking point over the inequality inherent to the Euro zone; it can't go on the way it is without significant change--what's happening in Greece, Italy, Spain and other places is a travesty

    What you say sounds plausible, but is making key assumptions which are not correct.

    The UK has its own currency and is not using the Euro. As such, they can use monetary policy (e.g. inflate and deflate currency, affect interest rates, etc.) on their own without issue. One of the major problems for the PIGS countries is that they are on the Euro, cannot control their currency, and thus are tied to various other economies in completely different circumstances (e.g. Germany).

    The EU may or may not have problems, and may or may not be a "structural mess." It may or may not be good for the UK to leave the EU. However, pointing to Greece, Italy, and Spain as reasons why the UK should leave the EU makes as much sense as saying, "the farm next door just got a tractor, so I should buy a new car, too."

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