UK-EU coop vital to tide over Brexit

A new confrontation is in the offing between London and Brussels over the timing of Brexit process, as the EU wants the UK to immediately invoke the Article 50 to start the exit process to allay concerns of possible domino effect, and reassure perturbed markets.
But London seeks an orderly exit during which the new relationship will be defined between London and Brussels. This has been echoed by British Prime Minister David Cameron, who said he would resign by October and leave the negotiations to his successor. This is a clear indication that he would not trigger the Article 50, to the chagrin of his European peers.
Former London mayor Boris Johnson, who championed the Brexit, said, “It’s vital to stress there’s now no need for haste.” This stance from a figure that pushed hard for the Brexit would be badly received by Brussels.
Having strong feelings that the UK has started it so London must bear the brunt, EU leaders urged Britain to start Brexit ¬immediately. They insist that the British government should take the decision about when to invoke Article 50 of the Lisbon Treaty – the technical process for leaving the EU.
But Washington, the UK’s staunch ally which miscalculated that the UK might not exit from the EU, has now stepped in to call for orderly exit that would not harm both parties, and to mitigate global crisis caused by
the seismic vote.
To address the crisis, Germany’s powerful Chancellor Angela Merkel hosted the leaders of France, Italy and the European Union in Berlin on Monday amid fears Britain’s vote to leave will create a huge fallout in eurosceptic member states.
But there are increasing fears in London that an impatient EU will want to make an example of Britain to discourage others thinking about a referendum of their own.
Despite urgency, London feels it will decide in a proper manner to start the exit process. Britain should only trigger Article 50 to leave the EU when it has a “clear view” of how its future in the bloc looks, said British Chancellor of the Exchequer George Osborne.
The remarks, given at a Treasury press conference in central London, were timed to calm investor jitters ahead of the opening of European stock markets at 0700 GMT. The London stock market opened down by 0.8 percent.
He said he was not rowing back from the “concerns I expressed during the campaign” but added, “I fully accept the result of the referendum and will do everything I can to make it work for Britain”.
There’s no need for Brussels to cry over the spilt milk. It has to put that behind and exert efforts to forge a new relationship with London. While London shouldn’t act with impunity as nothing has happened. It has pushed Brussels to the extreme. So both parties must cooperate for a smooth and orderly exit.