How the United Kindgom Will Leave the EU (The Actual Brexit) Explained in One Minute

About 52% of those who voted, decided they want the United Kingdom to leave the European Union. The process however will be anything but simple. Article 50 of the Lisbon treaty will have to be triggered. This will start a two year negotiation to process and there are three possible outcomes.

1. If the United Kingdom and the 20 out of the 27 member states reach an agreement, the UK will leave according to that agreement.

2. The European Union has the right to extend the negotiations if they feel more time is needed, but they have to do it unanimously. In other words, everyone including the UK must agree.

3. If no deal is reached and no extension is agreed upon those two years, the United Kingdom will leave and revert to the rules of World Trade Organization.

All in all, the Brexit has local as well as international implications. Locally, the main risk is represented by a fragmentation of the United Kingdom. Scotland, for example is pro-EU. They might ultimately decide to separate from the UK. Internationally, the most dangerous thing about the Brexit is the fact that it sets a precedent. If the United Kingdom doe well outside the European Union, other EU countries might also decide to leave. If the economic performance will be poor, the exact opposite will happen. This much is certain. We have a lot of political and economic drama ahead of us.

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