(VOVworld) – The European Union (EU) holds an extraordinary meeting in Brussels on Tuesday to approve a resolution on procedures of UK’s departure. Taking place ahead of the EU summit, the extraordinary meeting will discuss steps needed to prevent the organization from crisis.
The UK’s June 23rd vote to leave, a historic turning point, is extremely challenging for the EU and is threatening future integration efforts.
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| Is the EU ready for a future without the UK? (Photo: AFP) |
Post-Brexit impediment
The meeting on June 28 and 29 is considered one of the most “bitter” meetings in history where EU leaders discuss Brexit and what is needed for the UK to leave. The process will take 2 years to be completed based on an article of the Treaty of Lisbon, but will face numerous obstacles on its way. The EU has never faced a “separation” scenario like this. Prime Minister David Cameron, who declared he’ll resign, said his successor will take official steps for the UK’s departure instead of him. As the recent Brexit referendum is not legally binding, some politicians are urging the UK parliament to vote before the official start of Brexit. Under an agreement between England, Scotland, Wales and Northern Ireland, a London-issued law to approving the departure from the EU needs consensus from the 3 other legislative agencies. EU leaders want Brexit to take place quickly to limit possible consequences. Concerns are mounting over the discussions between the UK and the remaining EU members on the timing and ways London will leave the European Union for good.
Negative impacts
Brexit will immediately have caused a negative impact on the economy and the politics. Leaving the EU, UK’s economy will shrink between 3.8% and 7.5%. David Cameron’s resignation may start a crisis in the ruling Conservative Party and in the UK’s political system. Some are worried that Brexit may trigger an economic decline. While Europe is encountering an economic-financial crisis, migrant and terrorism issues, Brexit will cast even more doubts about the EU. The EU will also suffer economic risks as the 27 remaining members have to supplement its budget. Economists say Brexit will create trade barriers between London and Brussels, and drive the UK’s economy into crisis, devaluing pound, affecting exports of the EU to the UK. Currently, 27 members of the Union are enjoying a trade surplus of 100 billion euros with the United Kingdom.
Stay united after shock
Stability is needed for both sides. So the most urgent task is to figure out how to sustain the bloc’s future structure, protect the eurozone and prevent possible impacts on the pound and the financial markets. Shuttle diplomacy has been seen among EU leaders.
During a telephone conversation on Sunday, French President Francois Hollande and German Chancellor Angela Merkel agreed on measures to settle for after Brexit vote. Both sides stressed the need to take joint action and finalized the compilation of a 10-page document on security, migrants, refugees, employment and growth for EU members’ discussions. Then, a tripartite meeting between top leaders of Germany, France and Italy was held in Berlin, where they repeated the importance of prompt solutions to prevent any domino effect of Brexit.
Will peace remain in the EU after the UK’s departure? Hopefully, the EU’s upcoming summit will reach consensus on steps to be taken to keep its train on track.