Leaving the EU: how 'Article 50' could make the divorce very tricky for Britain

[dipsydoodle]

The debate between Nick Clegg and Nigel Farage on what life outside the EU looks like goes something like this. Clegg: Outside the EU, Britain will become like North Korea – miserable and completely isolated. Farage: No, the UK will become like Hong Kong – totally liberalised with the world at its feet.

If only it was that simple. There’s no good off-the-peg model that the UK can simply adopt should it leave the EU. The Norwegian (“regulation without representation”), the Swiss (patchy market access), Turkish (customs union only) and the World Trade Organisation (extra costs at the border) models all come with problems.

In an ideal world, the UK would find a totally unique model – far fewer costs and full access to the EU market and a strong say over the rules. Say, a very comprehensive free trade agreement – covering everything from boilers to bankers – which enables all sides to have a say over standards across the board. Could that be achieved? Perhaps, but there’s one big problem: the departure lounge will be a rough experience for Britain.

The EU Treaties provide for a so-far untested mechanism by which a country can leave the EU – “Article 50” – which would give the UK two years to negotiate an “exit” deal. Article 50 has two main advantages: It can be triggered by London alone and striking a new deal would not require unanimity amongst EU states, unlike an EU treaty change.

http://blogs.telegraph.co.uk/finance/matspersson/100026967/leaving-the-eu-how-article-50-could-make-the-divorce-very-tricky-for-britain/

[T_i_B]

1. And true to form....

.....the Farage fanboys in the Torygraph comments section are not happy at all with this article.

However, the idea that leaving the EU will somehow magically make everything right and that there will be no side effects is utter moonshine. We will still have to abide by EU rules, but we will lose any say in the making of those rules.

And as far as leaving the EU goes, of course the EU will have the whip hand in those negociations, even more so if Scotland votes for independence.