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By Eduard von Kymmel, Head of VP Fund Solutions*
Brexit – a look back and forward
The United Kingdom (UK) has voted to leave the European Union (EU) in a referendum held on 23 June 2016. Although the Brexit vote happened more than one year ago, it is still difficult to assess the consequences for the UK, EU and Luxembourg. The mechanism given by Art. 50 of the Treaty of the European Union (TEU) has never been used before and incidents which might be comparable to Brexit are very rare and hard to put side by side.
Taking into account all the required steps, formal procedures and varying interests, the timeline to exit (March 2019) is quite ambitious. Furthermore, the potential outcome is difficult to predict...
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