British PM May fires starting gun on Brexit quoting : "Investor's Business Daily"

May signed the Brexit letter on Tuesday, pictured alone at the cabinet table beneath a clock, a British flag and an oil-painting of Britain's first prime minister, Robert Walpole. After holding a referendum in June 2016 the United Kingdom voted to leave the European Union, the signing of Article 50 now officially triggers that process. "The United Kingdom is leaving the European Union," May told lawmakers in the British parliament "This is an historic moment from which there can be no turning back." "If, however, we leave the European Union without an agreement the default position is that we would have to trade on World Trade Organisation terms," she said. Tusk said the EU would seek to minimise the cost to EU citizens and businesses and that Brussels wanted an orderly withdrawal for Britain.


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"We believe that this might leave the U.K. and the other nations of Europe embittered and resentful for a generation." The British hope the amount of goods and services the EU sends to the U.K. will allow for a compromise. "After nine months the UK has delivered," EU President Donald Tusk, said in a Twitter post after receiving a signed letter by May, which invoked Article 50 of the Lisbon Treaty. "The most unsatisfactory result would be for the parties not to agree so that the U.K. just exits unilaterally," said Wood. An impasse might leave the EU refusing to engage on trade and potentially forcing the issue in front of the courts.


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