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Global Treasury

A Phased and Orderly Brexit (but Tough Talks in Store)

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June 08, 2017

By John Hintze and Ted Howard

European Commission approves negotiating principles and orderly approach to Brexit.

With less than two years left before the UK becomes a "third country," the European Commission (EC) approved a mandate in early May that sets out core negotiating principles. Key issues impacting multinational corporations (MNCs), such as passporting and the status of European Union (EU) and UK citizens working in the other jurisdiction, have yet to be decided, but the directives set out in the mandate suggest the EU will try to make the transition as smooth as possible.

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