Brexit and its Reality
A vote has been cast and now the world is left to wonder what it means and when it happens. Casper von Koskull, Nordea Bank AB CEO says there are “a lot of uncertainties” regarding the process which has rocked the EU. The man running the Nordic region’s biggest bank says the European Union needs to brace itself for the possibility that it will take up to half a decade before Britain can extract itself from the bloc. With no precedence or plan in place “it may be that the Brexit process will not be started until after two years,” von Koskull says, “Now it may well be that this will be a process that lasts three, four or five years.”
Britain’s goal of limiting the free movement of labor while maintaining access to the single market is causing a divide between the U.K. and the EU. This is clearly shown by Tomas Prouza, the Czech state secretary for EU affairs, when he called the current proposals “completely unrealistic.” In response, British Prime Minister Theresa May said her government won’t trigger Article 50 of the Lisbon Treaty this year, but also said the issue won’t be “kicked into the long grass.” The next meeting on the subject is set for Sept. 16th at a summit in Bratislava, Slovakia, which Britain leaders will not attend. Which is a first for the nation since the bloc was first join by the U.K. in 1973.