Abstract

The European Union (EU) is one of the most important unifying undertakings, counting today 27 Member States and 70 years since its establishment. The need for European integration was initially manifested by a purely economic union of six states which has gradually become a supranational structure. This structure - through the accession of new countries - aims at increasing economic and political integration. The enlargement, as has taken place in the previous decades, has put a great emphasis on the states’ desire to construct a solid basis for the establishment and development of cooperation and solidarity among the states, as well as the intention to incorporate, within their national legal order, their fundamental values and principles that the EU represents. In order to ensure the accession of those states which actually respect the acquis communautaire and which aim at the EU’s welfare, the Treaty on European Union (TEU) lays down a set of conditions, both substantive and formal, that the member states are required to fulfil. There is no doubt that the enlargement that took place over the past period (1973-2013), has brought about significant changes that influenced both the member states and the EU itself. Notably, sustainable development has started to gradually take place and EU action has been encouraged in a wide range of policy areas, i.e., from human rights to trade and transport. The result of this development was the achievement of a significant improvement in the life standards of European citizens and the enhancement of EU’s influence in the international community. The European legislation provides not only for the right to join the Union but also for the right to withdraw. This means that, without having to fulfil specific substantive conditions, a member state has the right to notify the competent European institution about its intention to withdraw, in order to initiate the TEU exit procedure. The short and long-term consequences of withdrawal have an impact on both parties, but mainly on the leaving state. To date, the only example of exit is the United Kingdom (UK), which following a referendum on 23 June 2016, initiated its withdrawal from the EU. Following this referendum, its withdrawal eventually happened on 31 January 2020. Such exit decision is considered to entail serious risks especially for the UK, due to the radical changes that have already been incurred or are expected to be incurred for both parties.

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