What to expect as May starts untangling the UK from the EU

“We will have to make sure the next prime minister shares that commitment”.

“We must not waste time – the conservative party went fast” in getting May in position, EU Economic Affairs Commissioner Pierre Moscovici told reporters in Brussels on Tuesday.

Jeroen Dijsselbloem on July 12.

Moscovici welcomed news that Theresa May is set to be named Britain’s next prime minister but said it was “essential” that the European Union continued demanding swift clarification on the UK’s relationship with the EU.

That stance won’t find favor with European Union finance ministers who on Tuesday said the United Kingdom should hurry up. Lawmakers should be allowed a free vote on an Act of Parliament before Article 50 of the Lisbon Treaty can be triggered and the two-year timeline to Britain’s exit formally starts, they said. “And I think it’s mainly in the British interest to get clarity soon, so don’t postpone the negotiations endlessly”.

Top British universities say they have already faced problems working with European partners following the Brexit referendum result.

Global markets are keeping a keen eye on London as one of the world’s major financial centres, waiting to see if the shock of Brexit will spook investors and cause big players to move overseas where there is less economic uncertainty. And it may be that there’s where we end up. “I did not have my children to bring them into a world where they were part of an isolated Britain with values that I can not identify with”, said Jenkins.