Overview -

The Prime Minister has issued formal notice of the UK’s intention to leave the European Union, triggering the start of a two-year negotiation process. The countdown has begun – but a countdown to what?

As with the referendum vote itself, in practical terms nothing has changed with the triggering of Article 50, except that the timetable has crystallised. The difficulty is that what will happen at the end of the two-year negotiation period is still unknowable – talks could result in anything from an agreement to an extension of time, or to the UK leaving the EU with no deal and years of negotiation to follow.