brexit negotiation

Formal Brexit Negotiations To Begin Monday: Officials

European Union said the formal negotiations on withdrawal of United Kingdom from the bloc, commonly called as Brexit, to begin on Monday.

Brexit Secretary David Davis and EU negotiator Michel Barnier made the announcement after preliminary talks between them in Brussels.

The announcement comes amid doubt over the general election result affecting Brexit talks which is pre-scheduled on Monday. Meanwhile, talks between the Conservatives and the Democratic Unionists are ongoing too over the matter.

United Kingdom may quit the EU bloc after official procedures by the end of March 2019.

Prime Minister Theresa May initiated Article Article 50 for the withdrawal of UK from EU in March this year.

The PM hoped election would help her in Brexit with increase in Commons majority, instead a hung Parliament was created and she is seeking the backing of DUP to win key votes.

The main focus in the Brexit negotiation would be status of EU nationals and Britons living elsewhere in the EU, how the trade between UK and EU to continue after the withdrawal and the size of any “divorce” bill.

Following the general election a call for new cross-party approach is in card for the talks of Brexit and Downing Street has made it clear its strategy will not change in whatever reason.

Meanwhile, the EU leaders have called for the talks to the earliest.

Meanwhile, hike in food prices was seen to be the highest in March compared to all the ups in past more than three years and retailers blame Brexit as the main cause and pound too has been hit along with global commodity hikes.