United Kingdom may reverse Brexit post polls: EU Parliament President

Britain to lose two EU agencies

Britain to lose two key EU agencies within weeks - report

And the Speaker of the House of Representatives Paul Ryan pretty much confirmed as much when he said on a London visit today that United States lawmakers are committed to working with the president towards a bilateral agreement with the UK.

The Netherlands on Thursday made a formal bid to become the new home of the European Medicines Agency which will likely have to relocate from London after Britain leaves the EU.

The document covers in greater detail the same ground outlined last month by EU Council President Donald Tusk in response to Prime Minister Theresa May's official 29 March notification that Britain was leaving the bloc.

European Commission spokesman Margaritis Schinas said Wednesday the "real political" negotiations on Brexit will start after Britain's snap June 8 elections.

Residency and social security were also highlighted by the Commission as rights it will seek to protect in the two-year negotiations with London, as the two sides try to undo the mass of legislation agreed since Britain joined then European Economic Community in 1973.

You can not have your cake and eat it."In draft negotiating guidelines, issued on March 31 and broadly endorsed by the other 27 national governments last week, Tusk made clear Britain has no say: "The future location of the seats of European Union agencies and facilities located in the United Kingdom is a matter for the 27 member states."He added: "Arrangements should be found to facilitate their transfer".

Most of the EU's remaining 27 member states will be bidding to take control of the two agencies, regarded to be among the "crown jewels" of European Union agencies.

MEPs will have a vote on any deal struck by Mrs May at the end of the two-year process of negotiations under Article 50, giving the Parliament an effective veto. This can not be delayed.

"I hope the voters will deliver a tough message to Brexiteers", said British Socialist MEP David Martin.

China has looked on with some concern at the Brexit process, nervous about instability in the bloc that is China's largest trading partner.

Meanwhile, the European Commission's draft negotiating document indicated that Brussels officials also believe that the ECJ should rule over the agreement on citizens' rights.

This article is for general information purposes only. Leveraged trading is high risk and not suitable for all. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.

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