After the Conservatives select a new prime minister sometime in September, several financial and structural issues will have be addressed before progress is made on a smooth Brexit.
The financial decisions include phase out of UK’s EU budget contributions and what to to with joint research projects slated to end after Brexit. What are they going to do about British subjects working in EU institutions and what is the status of UK nationals living in EU and EU nationals living in the UK?
Remaining EU leaders will need to set new policy priorities regarding economic growth and security. Negotiations can’t formally Begin until Britain invokes Article 50, official notification of withdrawal, sometime in the fall.
Markets have stabilized somewhat but it will be at least six months before we get close anything resembling normal.
