10 Mar 2016
Brexit fears and loss of trade deals in EU - Investec
Analysts at Investec explained that leaving the EU would mean not just renegotiating trade relationships with the remaining 27 countries...
Key Quotes:
"...but also with a further 53 trading groups where existing agreements, struck on behalf of the EU, would cease on a UK exit."
"While Article 50 of the Lisbon Treaty (which a country needs to invoke to leave the EU) envisages the conclusion of trade talks over a two year period, this seems hopelessly optimistic to us, especially given the number of trade agreements up for renegotiation and the length of time that discussions typically take."
"It is possible for the EU exit process to be extended, but only on the unanimous agreement from the other 27 EU countries. In practice there would be a serious risk of the UK being outside the EU without a large number of trade deals in place."
Key Quotes:
"...but also with a further 53 trading groups where existing agreements, struck on behalf of the EU, would cease on a UK exit."
"While Article 50 of the Lisbon Treaty (which a country needs to invoke to leave the EU) envisages the conclusion of trade talks over a two year period, this seems hopelessly optimistic to us, especially given the number of trade agreements up for renegotiation and the length of time that discussions typically take."
"It is possible for the EU exit process to be extended, but only on the unanimous agreement from the other 27 EU countries. In practice there would be a serious risk of the UK being outside the EU without a large number of trade deals in place."