{"id":4132,"date":"2020-09-03T05:48:12","date_gmt":"2020-09-03T09:48:12","guid":{"rendered":"https:\/\/www.mapsofworld.com\/answers\/?p=4132"},"modified":"2020-09-03T07:11:24","modified_gmt":"2020-09-03T11:11:24","slug":"what-is-article-50-of-the-treaty-of-lisbon","status":"publish","type":"post","link":"https:\/\/www.mapsofworld.com\/answers\/world\/what-is-article-50-of-the-treaty-of-lisbon\/","title":{"rendered":"What is Article 50 of the Treaty of Lisbon?"},"content":{"rendered":"\n\n
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\n 4.9\/5 - (7 votes) <\/div>\n <\/div>\n
\"Map<\/a>
Map of Europe depicting countries which are members of the European Union<\/strong><\/em><\/figcaption><\/figure>\n

On March 29th, 2017, Theresa May, the former Prime Minister of the United Kingdom, wrote a letter to Donald Tusk, the President of the European Council, notifying him of the UK\u2019s exit from the EU (popularly referred to as Brexit). The letter served to trigger Article 50 of the Lisbon Agreement \u2013 a formal exit clause that sets in motion the exit process of the UK from the EU. Before we understand Article 50, let us take a look at the Lisbon Agreement itself.<\/p>\n

The European Union or EU is a partnership of 27 nations (28 nations, before the exit of the UK) from Europe. The EU functions as a single market with freedom of trade, movement, and residence accorded to the citizens of member states. Most of the EU member states also use the Euro as a common currency.<\/p>\n

The Maastricht Treaty, which was signed in the year 1992, laid the foundation for the formation of the European Union. It brought together members of the European Economic Community (EEC) who were all signatories of the Treaty of Rome (effective, 1958) to form the EU. The foundations of the EU were solidified by the signing of the Treaty on European Union in 2007 along with others which laid down the guidelines for the functioning of the EU. The Treaty of Lisbon (signed in 2007) introduced amendments to the Treaty on the European Union and the Treaty of Rome. It is considered to be the constitutional basis for the functioning of the EU. Article 50 of the Treaty defines the process for any member to leave the European Union. Article 50 of the Lisbon Treaty has so far been triggered only once (in the context of the Brexit).<\/p>\n

Implications of Article 50<\/h2>\n

Article 50 states that<\/h4>\n