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What is Article 50?

Updated on March 27, 2023 , 89 views

Article 50

Article 50 refers to an exit clause in the EU (European Union) that states the steps that must be considered for leaving the EU intentionally. Any nation that plans on leaving the EU has to look into Article 50 and take the necessary steps required for completing the exit procedure. In other words, article 50 specifies the steps that will enable the nations to announce their intention of leaving the EU.

The UK became the first nation to practice these steps as most of the British citizens showed their desire of leaving the European Union. This Article was launched in 2007 and the contract was signed by 27 members that were part of the union. This article states the rights of the members who plan on leaving the European Nation intentionally.

Here’s what Article 50 specifies:

  • Each member in the European Union is allowed to leave the EU anytime they want. They can quit the group to fulfill the constitutional requirements.
  • Any member that plans on leaving the European Union has to announce their decision must inform the European Council of their plan. The European

Council will provide the member with a detailed list of guidelines. The council will conclude it on the EU’s behalf after they have obtained the permission of the European Parliament.

  • The member that left the Union requests to rejoin the group, they must refer to Article 49.

History Article 50

In 2010, Article 50 became a controversial topic. It also became one of the important concepts for discussion when Greece was thrown out of the eurozone as the Economy was plunging rapidly. The European Nation made this decision to protect Europe from collapsing. That’s when they decided to get Greece out of the EU. Here, the major controversy that gained attention was that Article 50 did not specify any guideline or instruction concerning the removal of a state from the eurozone against its wish. Greece did not decide to leave the EU intentionally but was pushed out of the state. In addition to that, removing Greece from the European Union was not required at all. They just had to remove the country from the eurozone. The country managed to sign a deal of agreement with the EU creditors.

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The EU was launched in 1957 which was designed to promote economic independence among the European nations. The main bloc features a total of six countries, including France, Belgium, Netherlands, Italy, Luxembourg, and Germany. A few other nations then joined the group. Developed by Maastricht Treaty, the area included a total of 15 members that included entire Western Europe.

Between the years 2004 and 2007, the European Union witnessed the biggest expansion with 12 members added to the group. The states included members from the communist states. 27 members signed the deal and it came into existence in 2009. Article 50 was designed to make it easier for the members to get out of the European Nation following the basic exit principles.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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