European Parliament urges Britain to begin EU exit Tuesday

Image
AFP Berlin
Last Updated : Jun 26 2016 | 3:07 PM IST
The European Parliament's chief called today for British Prime Minister David Cameron to begin formal proceedings to leave the EU at a summit this week.
Martin Schulz told German newspaper Bild am Sonntag that a period of limbo over Brexit would "lead to even more insecurity and thus endanger jobs".
"Hesitating simply to accommodate the party tactics of the British conservatives hurts everyone," he said.
"That is why we expect the British government to now deliver. The summit on Tuesday is the right time."
The four biggest groups in the European Parliament have also drawn up a draft resolution calling for Cameron to set the Brexit ball rolling on Tuesday, Germany's Frankfurter Allgemeine Sonntagszeitung reported.
This was crucial, the groups wrote, "to avoid damaging uncertainty for all and to preserve the integrity of the union".
They added that "no new relationship of whatever kind between the United Kingdom and the EU can be agreed before (Britain's) exit accord has been completed".
Cameron said Friday in the wake of the shock referendum outcome favouring Britain leaving the EU that he would resign his office by October and leave negotiations on the so-called "Brexit" to his successor.
To begin the withdrawal process, Britain must invoke Article 50 of the EU's Lisbon treaty, which has never been used before.
The first step is to inform the European Council of member states which sets the clock ticking on a two-year timetable of negotiations.
The EU will hold a summit Tuesday and Wednesday to discuss the fallout from the British vote and the European Parliament will also hold a special session.
Foreign ministers from the EU's six founding states meeting in Berlin yesterday urged Britain to begin the exit process "as soon as possible".
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 26 2016 | 3:07 PM IST

Next Story