It should be possible to complete the negotiations within two years, in time for the next elections for the European Parliament in 2019, he said.
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The indicator “has partly recovered from its Brexit shock”, said ZEW President Achim Wambach, after the U.K.’s vote in late June to leave the European Union had sent the ZEW’s measure of German economic sentiment sharply lower in July.
Mr Roth said that once Britain triggers Article 50, which sets the clock ticking on a two-year deadline to leave the European Union, serious discussions could begin. “It’s taken Brexit to do this”. In the aftermath of the referendum, European leaders appeared to insist this would be the case.
The Sunday Times reported that ministers have been privately telling City of London officials about the delay and that May’s Brexit and global trade departments may not be ready sooner than that.
By invoking Article 50, the two-year process of leaving the European Union begins, according to the Times source.
It is thought that the French presidential elections, due in May 2017, and the German federal ones in September 2017 may also be a factor in May wishing to put off the start of official Brexit talks.
“British businesses and universities will have certainty over future funding and should continue to bid for competitive European Union funds while the United Kingdom remains a member of the E.U.”, UK Chancellor Philip Hammond said in a statement.
Despite Theresa May’s appointments of David Davis as secretary of state for exiting the EU, Boris Johnson as foreign secretary, and Liam Fox as global trade secretary being made within days of her new position as Prime Minister, the BBC article refers to a “turf war” between Fox and Johnson, the former wanting Johnson to relieve the responsibility of economic diplomacy over to his department in a letter.
He claimed British trade with other countries would not “flourish” if responsibility for future policy remained with the Foreign Office, suggesting Mr Johnson should instead focus on “diplomacy and security”. “Don’t expect any extraordinary growth rates, but there are also no signs of a recession”, Gitzel added. Sorting those issues out could be priority. He said the increase in prejudice displayed after the Brexit vote could also be fuelling the interest.
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Even so, John Redwood has gone on to say that the Brexit could happen immediately and is persistent that there was nothing to the potential Brexit delay.
