Anastasia Moroz

Anastasia Moroz

Staff writer and journalist at Finbuzz.com
Anastasia is a staff journalist and editor at Finbuzz covering finance, banking and technology.
Anastasia Moroz

France’s President Francois Hollande is forcing the Prime Minister to boost the Brexit notification, Financial Times reported.

May was intending to trigger Article 50 by the end of March next year, which is only a month before the first round of French presidential elections.

At an EU summit on October 20, Hollande insisted on May bringing that date nearer to Christmas, or even sooner.

This is due to the fact that even though being the most unpopular leader in French history, Hollande still expects to run again for president.

Theresa May May is forced to pull the Brexit trigger

Hollande will have a hard time trying to make any binding negotiations at an EU level if his position is volatile — he cannot afford to make any commitments that would eliminate his chances.

The problem with May’s planned timing for Article 50 triggering is that once she has sent the formal letter that triggers it, it will take a few weeks or even months to even to draw up a negotiating timetable. Even if she does trigger Article 50 by the end of March, as it was initially planned, negotiations will start on April 23, which is the middle of the French presidential election.

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Taken into account the massive uncertainty surrounding the current situation, Germany would also be in favour of the UK triggering formal negotiations sooner than May is planning.

A German official told the Financial Times that the country “an early start to negotiations” would be welcome.

Angela Merkel, German chancellor, will be encountering her own elections in September, making May’s potential timing of Article 50 difficult for her too.

One way or another, negotiating Brexit will be challenging for the UK.

Many European countries, one of which France, are adamant, and are not willing to give any concessions as a preventive measure from other countries exiting from the EU.

May is doing her best trying to postpone triggering the process as she wants a guarantee that the country will get a favourable deal from Europe. Hollande, however, said last month that “there must be a threat, there must be a risk, there must be a price” when it comes to Britain leaving.

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