Article 50 and the Next Phase of Brexit

31 MAR 2017

Brexit has begun, as the UK's triggering of Article 50 begins an unprecedented two-year negotiation process to leave the European Union. Huw Pill, chief European economist of Goldman Sachs Research, notes that the broad set of issues under discussion mean businesses and other market participants will likely face uncertainty throughout the process as both parties work to satisfy core constituencies while maintaining the overall stability of the UK-EU relationship.

 

In European negotiations of this type, ultimately a compromise needs to be achieved. That leads to two principles governing European negotiations: first, that nothing is agreed until everything is agreed; and second, that that final agreement is only achieved at the very last moment.

- Huw Pill

Huw Pill
Chief European Economist, Goldman Sachs Research