IP scenarios in a Brexit world
The ‘leave’ vote of June 23 does not automatically lead to a Brexit. Pursuant to article 50 of the Lisbon Treaty, the UK, or more precisely the government of the UK, will have to notify the European Council of its intention to withdraw from the EU. Following this notification, the EU and the UK will have two years in which to conclude the withdrawal agreement. If both sides agree, the two-year term may be prolonged. The UK will remain part of the EU until the withdrawal agreement has been inked, which means that the status quo will likely remain unchanged until about the end of 2018.
