On Thursday, the United Kingdom held a referendum to determine whether the country would remain a part of the EU bloc. The results of the referendum, which were revealed on Friday, saw the Leave campaign win almost 52% of the votes and prompted PM David Cameron to announce his resignation.
According to the newspaper, the country will eventually come out of the EU only in 2020. In the coming years, the UK and the EU are expected to discuss how their relations will look in the future.
According to experts, the UK is unlikely to immediately leave the European market and stop financing the EU funds. At the same, they are likely to immediately cancel control of the European Supreme Court over their national security as well as undertake decisive measures to limit immigration.
To leave the EU, the UK also needs to undergo a number of procedures. In particular, it must inform the European Council about its intention to withdraw from the Union. The European Council will then decide on the principles on the basis of which the UK's withdrawal will be discussed. After that the European Commission will discuss the details of the agreement on withdrawal, and finally the European Parliament and the majority of EU member states will have to approve the deal.
If later London decides that Brexit was a mistake, it may re-apply for membership in the European Union, but it will have to start from scratch, the newspaper noted.
"If at some point Britain comes to a conclusion that the withdrawal from the EU was not a good idea, it is up to the country to reapply for membership. In this case, however, Britain must go through the whole accession process again," the newspaper wrote.
