Why European Union Won't Discuss Trade With the U.K

The referendum result shocked the world, caused markets to tumble, bankers to scramble, dramatic political upheaval and widespread anxiety over economic uncertainty. Here are some of the significant developments over the week that shook the world.

The head of trade for the European Union says that the United Kingdom will not be entitled to negotiate its place at Europe’s economic table until it makes good on its apparent commitment to leave the E.U.“First you exit, then you negotiate,” Cecilia Malmstrom, the Swedish official who serves as the European Commissioner for Trade, told the BBC.

Malmstrom’s words reveal a harsh reality for the U.K., which will need up to two years to fully abandon its E.U. membership. Negotiating a trade agreement thereafter could take far more time, considering that Canada’s trade pact with the E.U. took seven years to finalize. Per E.U. strictures, the U.K. is also not allowed to negotiate trade matters with outside nations until it is no longer an E.U. member.

YouTube contains a full array of Farage’s feisty speeches, debates, and often contentious media interviews over the years, all suggesting that he could be one of the best orators on the world stage, whether you agree with his views or not. The populism and anti-globalism that has given rise to UKIP also partially parallels the success of Donald Trump and Bernie Sanders in the U.S.

Prompting a certain degree of heckling, Farage spiked the football (see clip below which has gone viral) as some on social media described it in U.S. terms, in gloating about the Brexit win.And, even then, there's no guarantee that they'll be allowed back. You see Spain is opposed to Scottish independence because it doesn't want to send out encouraging messages to Catalonian separatists. So Spain may well act to punish Scotland, too, even if they have already gotten their independence.