Potential Double Impacts of Brexit “With And Without A Deal” For EU and UK – In Particular “Internal Market” Issue

Article 50 of the TEU acknowledges the right of the member states to withdraw from the EU. The provision entitles to a unilateral, unconditional, but not immediate withdrawal from the European Union, which renders relatively easy in procedural terms to trigger the process. As landmark need should also be noted, Article 50 of the TEU releases from the strictures of public international law, and in case its absence of an explicit withdrawal, so the applicable law will be the Vienna Convention on the Law of the Treaties. Short and long-term impacts could result from the negotiation process between the UK and the EU and “Hard” or “Soft” Brexit. In particular, how the “internal market” will be regulated, will it remain as a complete package or some part will be transformed depending on the future relations between the UK and the EU, the article will focus on the possible forms of relations such as Free Trade Agreement (FTA), European Economic Area (EEA), Custom Union Agreement (CUA), and Bilateral Agreement (BA).