Written by: ForumIASPosted on Last modified on Comments
British MPs have rejected leaving the European Union(EU) without a deal. This would open the way for MPs to vote on whether Parliament wants to seek an extension to Article 50 which will delay the UK’s departure from EU beyond the current March 29 deadline.
A no-deal Brexit is the default position of the Article 50 process.The only ways for the UK to avoid a no-deal exit is by approving an agreement with the EU or canceling Brexit altogether.
UK had invoked Article 50 in 2016 and the deadline for the Brexit deal is March 29,2019.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.
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.Its 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 which came into force in 1993.