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In the end little may change after Brexit

So far the referendum vote in the UK to leave the EU is just a political act — one that can be ignored but there are still lots of things to play out before the impact is fully understood.
Ultimately everything hinges on the law — and in particular UK using Article 50 of the Lisbon Treaty. Everything — trade, foreign relations, all EU laws — stay the same until that Article comes into force. Article 50 gives the UK and EU two years to negotiate a leaving agreement — and even if something cannot be agreed — the UK would leave anyway.

PM Cameron, during his statement announcing intention to resign on Friday, made it clear that it will be the next Conservative PM, not him, who will be left to carry out that process. That means at least three months until the two-year clock is started.

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