British Prime Minister David Cameron stated last week that he would leave the business of activating Article 50 to his successor to be chosen in October, and prominent Brexit campaigners such as Boris Johnson have expressed that the U.K. should be in no hurry to trigger the 2-year process.
Amidst accusations that the pro-Brexit camp is backtracking from its earlier commitments and calls for the U.K. to begin departure proceedings as soon as possible, UKiP Leader Nigel Farage said at a meeting of the European parliament that the EU is “in denial” over the British referendum results, which he called “a beacon of hope”.
Germany struck a note of less flair, with a spokesman for Chancellor Angela Merkel stating: “Before Britain files such a note (triggering Article 50), there will be no informal talks about the modalities of a divorce. This is the order that has to be obeyed.” Merkel herself added that the process will not “take place according to the principle of cherry-picking”.
French President Francois Hollande has similarly urged Britain “not to waste time”, with European Parliament president Martin Schulz echoing the same view. Cameron is to meet with EU leaders on Tuesday evening.
As the U.K prepares to come up with a timeline of its divorce from the European Union, the EU appears to be doing the same, with efforts to move the bloc’s European Banking Authority from London underway. Paris and Frankfurt are reported to be in contest to be the new host for the regulation agency.