29 Mar
Brexit News, Chapter News

Statement by the European Council (Art. 50) on the UK notification

Today, the European Council received a letter from the British Prime Minister, Theresa May, notifying the United Kingdom’s intention to leave the European Union. This notification follows the referendum of 23 June 2016 and starts the withdrawal process under Article 50 of the Treaty. We regret that the United Kingdom will leave the European Union, but we are ready for the process that we now will have to follow. For the European Union, the first step will now be the...

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29 Mar
Brexit News, Member News

Brexit – Triggering Article 50

The UK Prime Minister will, under Article 50 of the Treaty on European Union, notify the European Council of the UK's intention to leave the EU. A Member State leaving the EU is unprecedented. However, at one level, nothing changes legally upon the triggering of Article 50. The UK is still bound by EU law, so legally it is “business as usual”. In reality, the hard negotiations start now. This update addresses some of the key questions facing businesses today – What is...

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29 Mar
Chapter News

Remarks by President Donald Tusk following the UK notification

Tusk: So, here it is, six pages: the notification from Prime Minister Theresa May, triggering Article 50 and formally starting the negotiations of the United Kingdom's withdrawal from the European Union. There is no reason to pretend that this is a happy day, neither in Brussels, nor in London. After all, most Europeans, including almost half the British voters wish that we would stay together, not drift apart. As for me I will not pretend that I am happy...

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29 Mar
Brexit News, Chapter News

Brexit Begins: Article 50 of the Treaty on European Union – Q & A

Article 50 of the Treaty on European Union – Q&A What is Article 50? Article 50 of the Treaty on European Union sets out the procedure for a Member State to withdraw from the European Union, if it should wish to do so. It was first introduced by the Lisbon Treaty in 2007. How does a Member State trigger Article 50? A Member State must notify the European Council of its intention to leave. There are no particular requirements regarding the form. What happens...

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29 Mar
Member News

CMS European M&A Study 2017

In geopolitical terms, there has been nothing to compare with 2016 since the end of the Cold War. Neither Brexit nor the election of President Trump was expected. The potential impact of either event, let alone both, could reasonably be anticipated to have given rise to inertia, confusion and uncertainty. In fact, M&A has been remarkably robust. Although global M&A value tumbled by 18% in 2016, the number of deals remained constant. Overall, 2016 was similar in value and volume to...

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29 Mar
Member News

UK hands in formal Brexit notification

As announced, UK Prime Minister Theresa May today lodged with the EU Council a notification under Article 50(2) EU Treaty, i.e. the UK's formal notification of its intention to withdraw from the EU. This notification triggers a two-year period for negotiations between the UK and the rest of the EU which should culminate in a withdrawal agreement. Failing such an agreement, the UK will leave the EU by operation of law after the two years, unless that period is...

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28 Mar
Member News

DOJ Appeals Injunction of President’s New Executive Order Banning Nationals from Certain Countries

The U.S. Department of Justice (DOJ) has appealed one of the two federal court injunctions issued in response to President Trump's revised travel ban executive order. This executive order, Protecting the Nation from Foreign Terrorist Entry into the United States (the “Order”), was to take effect on March 16, 2017.  The implications of the Order are described here. President Trump issued this revised order on March 6 after the U.S. Court of Appeals for the Ninth Circuit enjoined the initial executive...

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28 Mar
Chapter News

Budgets MEPs Back Flexibility: €6bn more for jobs, growth and tackling migration

Plans to make it easier to move money around within the EU’s long-run budget, to help tackle urgent challenges such as the migration crisis, strengthening security, boosting growth and creating jobs, were backed by the Budgets Committee on Monday. Parliament has long fought for greater flexibility within the Multi-annual Financial Framework (MFF), which would apply for the remainder of the 2014-2020 MFF. “Parliament demanded this revision of the Multiannual Financial Framework because it considered it highly necessary due to a...

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28 Mar
Chapter News

ECB Welcomes Dialogue with NGOs on Transparency

Non-governmental organisation commends ECB for steps taken to enhance transparency ECB confirms that it maintains balanced dialogue with all stakeholders ECB committed to strengthening good governance framework and integrity mechanisms The European Central Bank (ECB) today stressed its commitment to open dialogue with a broad range of stakeholders, as a non-governmental organisation published a report on the central bank. While emphasising that it is directly accountable to the European Parliament (EP), the ECB facilitated a project by Transparency International...

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