EU Leader asks United Kingdom to speed up their Exit

EU Leader asks United Kingdom to speed up their Exit

Until Prime Minister Theresa May triggers Article 50 to start formal exit negotiations, finance ministers are unable to start the lengthy and complex task of working out the ramifications in areas such as banker bonus legislation, tax, the single market and the European Union budget.

"It doesn't mean that we are going to discuss our future relations with the United Kingdom in Bratislava, because for this... we need the formal notification, I mean triggering Article 50" of the EU's Lisbon Treaty, Tusk said.

European Union leaders, excluding Britain, will meet next week in Bratislava to sketch out the bloc's future strategy after Brexit.

He also said he felt there was a strong political commitment from the EU's remaining 27 members to move forward together.

Mrs May held talks with Saudi Arabia's Deputy Crown Prince and Minister of Defense Muhammad bin Salman Al Saud
GETTYMrs May held talks with Saudi Arabia's Saudi Arabia's Deputy Crown Prince in China

Andersson also said she was anxious about signals that Britain could launch new aggressive tax policies to smooth economic bumps, such as lower corporate taxes suggested by former finance minister George Osborne, which she said would make other European Union members reluctant over a deal. To put it simply, the ball is now in your court.

"I think in the end it will be the British economy that is damaged the most, which I don't hope, but that is my concern", Dijsselbloem said. "But I am convinced that at the end of the day our common strategy goal [is] to establish the best possible relations between the United Kingdom and the European Union", Tusk told May.

In an interview with Bloomberg, Mark Wilson said that the United Kingdom government needs to provide the finance industry with more certainty about when it will trigger the formal two-year process to leave the European Union.

Britain voted last June by a 52-48 percent margin to leave the European Union, although the United Kingdom government has not announced whether it will attempt to remain a part of the EU's single market.

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