Britain CAN quit EU without a Brexit withdrawal agreement and save £150 BILLION
BRITISH Brexit negotiators can walk away from the EU and refuse to pay any more taxpayers' money simply dismissing excessive pay-off demands from senior Eurocrats.
By Siobhan McFadyen
PUBLISHED: 11:00, Sat, Feb 11, 2017 http://www.express.co.uk/news/uk/765351/Brexit-Article-50-EU-negotiation-trade-legal-clause-WTO-rules
A top legal expert has told Express.co.uk that under Article 50 of the Lisbon Treaty, Britain has the legal right to leave the EU without a withdrawal agreement should they not agree to exit terms.
And Prime Minister Theresa May can easily thwart any attempts by EU leaders, including Polish politician Donald Tusk and Luxembourg's former Prime Minister Jean Claude Juncker, to hold the British tax payer to ransom by simply saying “No!”.
Hedge fund founder and lawyer Christopher O’Donnell says subsection 3 of Article 50 clearly provides for two exit scenarios.
The first scenario is where Britain and the EU agree a withdrawal agreement.
The second scenario is where Britain and the EU cannot agree a withdrawal agreement, and in this second scenario, Britain simply leaves the EU without a withdrawal agreement two years after it issues a leave notice under Article(50)(1).
The Lisbon Treaty does not impose any financial penalties on Britain should it leave the EU without a withdrawal agreement.
Accordingly, the UK can actively remove itself from the EU, and it is under no obligation to settle any new financial arrangements once formal notice is given.
Britain has indicated that the EU will continue to receive funding from its Foreign Aid budget which accounts for 0.07 per cent of its gross national income (GNI).
However recent demands from Brussels politicians which laid down additional settlement costs of as much as £50bn plus the £91bn total contribution committed over the next three years have sparked fury.