By invoking Article 50 of the Lisbon Treaty (the article that states how a country might exit the EU), Great Britain begins the two-year annulment process, which has been likened to, “divorce proceedings.” Over the course of the 44 year old pact between Great Britain and the current 27 other national sovereignties, Europe as a continent has passed free immigration and travel laws, brokered various treaties and trade deals between in-house nations and outside countries, and provided a form of what many refer to as, “financial stability.” Unfortunately for the EU, Great Britain no longer sees the aforementioned dealings as reason enough to stay complacent.
12 World Leaders Implicated in Panama Papers Scandal
Although it is relatively impossible to quantify the entirety of the implications such a large leak could have for the global community, it is safe to say that the information dump that arrived last week will serve as a wake up call for politicians who believe their assets are untouchable when placed abroad.