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This is Article 50 of the Lisbon Treaty, the section that governs departures from the European Union.
Following the plebiscite in the UK in which the electorate voted 51.9% to 48.1% to Leave the European Union, this is the section that will be triggered when the UK government lodges its notice of departure.
Article 50 of the Lisbon Treaty.
Article 50
1. Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements. [Read more…]
Prime Minister Malcolm Turnbull says there is no cause for Australian to be alarmed by the UK’s vote to leave the European Union.
Speaking shortly after the result became clear today, Turnbull said: “I remind Australians that given that we are living in a world of great opportunities but also great challenges and uncertainties, now more than ever Australia needs a stable majority Coalition Government with a strong economic plan that sets Australia up for a prosperous future.”
The decision to leave the European Union is already causing global financial markets to wobble. The development may be a crucial moment in Australia’s federal election that causes voters to stick with the government.
Transcript of remarks by Prime Minister Malcolm Turnbull on the UK vote to leave the European Union.
TURNBULL: This is a momentous and historic decision and we respect the wishes of the British people, expressed through this referendum. I want to say that Australians, I recognise, will be concerned by the uncertainty and instability in global markets, falls in currencies, including the Australian dollar and in equity markets. [Read more…]
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