Tag: Brexit: UK

NOVANEWS British Prime Minister Theresa May invoked Article 50 of the EU treaty on Wednesday, formally launching the Brexit process. The Brexit letter was later delivered by the UK's Permanent Representative to the EU Tim Barrow to European Council President Donald Tusk. Nine months after the June 2016 referendum on Britain’s exit from the European Union, London is bracing for tense talks with Brussels on the exit deal that could cost it hundreds of billions of euros. It is estimated that Brexit would cost the United Kingdom around 60 billion euros ($65 billion) that London would have to pay to the European Union under the existing agreements. Hard Brexit Prime Minister Theresa May has opted for a tougher exit from Europe. London is opposed to the free movement of labor, refu...