Today, the British government has officially notified the United Kingdom's intention to withdraw from the European Union. Professor Achim Wambach, PhD, President of the Centre for European Economic Research (ZEW), comments on Brexit.

The British government has officially notified the United Kingdom\'s intention to withdraw from the EU.
The British government has officially notified the United Kingdom\'s intention to withdraw from the EU.

"The United Kingdom is the first EU Member State to trigger Article 50 of the Lisbon Treaty and to request its withdrawal from the Union – with all its consequences. The hard work begins now as negotiations are starting. For the benefit of all concerned, it will be important for the United Kingdom, Europe and Germany to maintain their close trading relationship so as to preserve the advantages resulting from it. 

Great Britain and the remaining Member States should now be quick to find a solution for EU citizens living in the UK as well as for UK citizens living in the EU. For other areas, such as trade in financial services, transitional rules can be helpful."

Date

29.03.2017

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