POUND TO EURO EXCHANGE RATE: This is how Article 50 trigger will affect sterling


GETTY


PREDICTIONS: This is what will most likely happen to the sterling after Article 50 is triggered

Tomorrow, when Theresa May triggers Article 50, Britain will become the first country to exit the EU.

The Prime Minister announced at a Conservative Party conference that .

What is Article 50?

Article 50 of the Treaty of Lisbon became law in December 2009 and was designed to make the EU “more democratic, more transparent and more efficient”.

It was signed by the heads and state and governments of countries that are EU members.

The law states that “any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements”.

This state would need to notify the European Council of its intention and the Union shall negotiate and come to an agreement with the state.

This will set the future framework between said state and the European Union.

What does this mean for the sterling?

It’s been a rocky road for the pound ever since the  on June 23.

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *