“I don’t as secretary of state want to throw them out today”. There is little idea of when, or even if, the country will formally declare it is quitting.
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Juncker, meanwhile, told journalists that the next British PM has “a day to trigger Article 50”.
“We can not be embroiled in lasting uncertainty”, Juncker told the European Parliament, which he interrupted to ask British members of the assembly who campaigned to leave the EU why they were there.
But leaders will want to hear what Cameron has to say about how the referendum was lost and more specifically about Article 50 – the mechanism for leaving the European Union.
His Conservative Party has been split for years into pro- and anti-EU camps and the opposition Labour Party sank deeper into chaos on Tuesday.
Labour lawmakers passed a vote of no-confidence in party leader Jeremy Corbyn, accusing him of failing to win over traditional supporters during the referendum campaign.
As he arrived for what is likely to be an awkward dinner with his counterparts, Cameron said the split should be “as constructive as possible” and that he wanted the “closest possible relationship” with Europe afterwards. His successor is not expected to be appointed until September.
“The European Union has no directorate”, Renzi said.
Obama acknowledged some similarities between Britain’s election and the presidential election in the U.S. He says some have been able to tap into fear that people may have about losing control and to offer “vague, nostalgic feelings about how, you know, we’ll make Britain great again, or we’ll make America great again”.
United Kingdom’s Prime Minister David Cameron and his delegation leave the EU Summit in Brussels.
The meeting will be of no comfort for Vote Leave campaigner and would-be next Prime Minister Boris Johnson who is now pushing for Single Market access, but with controls on immigration.
European leaders gathering without a British representative for the first time in 40 years poured cold water on the chance of Britain gaining no-strings-attached access to the huge EU single market of 500 million people.
Britain’s departure from the European Union will deprive the bloc of one of its few truly heavyweight members, a diplomatic, economic and military powerhouse.
One notable British representative was however in Brussels Wednesday, in the person of Scotland’s First Minister Nicola Sturgeon, meeting European Parliament President Martin Schulz and Juncker.
At a summit described as “sad” on Tuesday, Cameron won some breathing space from the remaining 27 leaders of the bloc five days after Britain rocked financial markets by voting 52 to 48 percent to leave the bloc.
Late Monday, Standard & Poor’s and Fitch both cut their credit ratings for Britain as a result of the referendum. Virgin boss Richard Branson said his airline-to-finance group had canceled a “very big” deal since the referendum which would have involved about 3,000 jobs.
He also told the Guardian newspaper some Chinese businesses were now reconsidering their business strategy in Britain.
But European powers are loath to give Britain an easy ride, insisting that negotiations on the future relationship can not begin until it starts the divorce proceedings.
“I see no way to reverse it”, Merkel said after Tuesday’s meetings.
The Brexit vote has also put the remaining 27 members of the European Union under pressure to come up with an adequate response to prevent other countries following suit.
“The leaders understood that some time is needed for the dust to settle”, Tusk said. Sterling also rose and Wall Street opened higher as investors hunted for bargains.
European Central Bank President Mario Draghi said central banks around the world should aim to align monetary policies to mitigate “destabilizing spillovers” between economies.
Via NPR, I … did not expect the cosmopolitan-progressive-in-chief to be out there urging calm when the rest of the worldwide political class is screeching that Brexit is the EU’s 9/11.
Draghi had added that he agreed with private economists who predict euro zone growth will be reduced by up to 0.5 percent cumulatively over the next three years due to the Brexit vote.
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World stock markets had plunged on Monday, extending Friday’s dizzying losses which saw $2.1 trillion wiped off worldwide equities on the heels of the Brexit decision.
