International legal news: Brexit voting results

In a historic vote, the UK voted in a non-binding referendum to leave the European Union (BBC).

Article 50 of the Treaty on the European Union provides the procedure to withdraw from the European Union.

The withdrawing State notifies the European Council of its intention and thereafter has two years to negotiate a withdrawal agreement before the EU treaties cease to apply to the withdrawing State.

As this withdrawal procedure has never been implemented before, next steps and the outcome of the negotiations between the UK and the EU are uncertain.

The scholarly interests of our Associate Dean and Director of the Law Library, Duncan Alford, include international banking law. As this process unfolds, there will certainly be implications for that area in particular.