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To: Olog-hai

Deng it, where is the ex-Mrs Murdoch to keep this idiot occupied?

BTW, there is no way the EU would just forgive and forget and let the UK back in on the same terms they had. That would require a unanimous vote of the other EU members. Reversing Brexit would probably require giving up the Pound and the ability to re-Brexit among other things.


10 posted on 12/16/2017 8:18:34 PM PST by Stingray51
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To: Stingray51
The last treaty (the Treaty of Lisbon) said this in Article 3, paragraph 4:
The Union shall establish an economic and monetary union whose currency is the euro.
So they already regard that currency as to be adopted by all member states. But they had special paragraphs written into the treaty having to do with the UK, so they regarded them as a special case. Protocol 15, paragraph 9:
The United Kingdom may notify the Council at any time of its intention to adopt the euro. In that event:
  1. The United Kingdom shall have the right to adopt the euro provided only that it satisfies the necessary conditions. The Council, acting at the request of the United Kingdom and under the conditions and in accordance with the procedure laid down in Article 140(1) and (2) of the Treaty on the Functioning of the European Union, shall decide whether it fulfills the necessary conditions.

  2. The Bank of England shall pay up its subscribed capital, transfer to the ECB foreign reserve assets and contribute to its reserves on the same basis as the national central bank of a Member State whose derogation has been abrogated.

  3. The Council, acting under the conditions and in accordance with the procedure laid down in Article 140(3) of the said Treaty, shall take all other necessary decisions to enable the United Kingdom to adopt the euro.
If the United Kingdom adopts the euro pursuant to the provisions of this Protocol, paragraphs 3 to 8 shall cease to have effect.
Denmark and Sweden kept their currencies as well, but nothing in the treaty is as extensive as those special protocols relating to the UK. Of course, with the UK on the way out, these are now not relevant, and I would say it’s a safe bet that if the UK were to reverse “Brexit” (hate that word; it’s Newspeak), one of the conditions would be giving up the pound sterling currency.
14 posted on 12/16/2017 8:41:05 PM PST by Olog-hai ("No Republican, no matter how liberal, is going to woo a Democratic vote." -- Ronald Reagan, 1960)
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