BREXIT camp wins; UK becomes first country to leave EU

BREXIT, which was looking quite eminent has finally taken place. As at 10.15 am (IST) it only required 3.7 lacs to win. With less than an hour left for the outcome, things are very clear, British leaves the European Union. The leave camp has got 51.8 per cent vote.

UK has become the first country to leave the European Union. BREXIT, was  a political goal that has been pursued by various individuals, advocacy groups, and political parties since the United Kingdom (UK) joined the precursor of the European Union (EU) in 1973. Withdrawal from the European Union is a right of EU member states under Article 50 of the Treaty on European Union.

Article 50 of the Treaty on European Union provides that: "Any Member State may decide to withdraw from the Union in accordance with its own constitutional requirements." Article 50 was inserted by the Lisbon Treaty in 2007, before which the treaties were silent on the possibility of withdrawal. 

Once a member state has notified the European Council of its intent to leave the EU, a negotiation period begins during which a leaving agreement is to be negotiated setting out the arrangements for the withdrawal and outlining the country's future relationship with the Union begins.