Brexit – relevant legal aspects

Although there are many drastic economic consequences of the exit of Great Britain from the EU (Brexit), the accent of this paper is put on relevant legal aspects (Lisbon Treaty) and possible scenarios of the forthcoming establishing of the new relations between Great Britain, on the one side and the EU, on the other. The European Union (EU) is faced with the turning point in its evolution in contemporary conditions. Besides putting the question about the future of the EU after Brexit, it is important to consider relevant legal aspects of Brexit. The fact that, for the first time, one Member State has legally decided to leave this very significant trading block and this sui generis organization with clearly exposed supranational features, dramatically points out that interdependence of states in modern world obviously is shaken. Many Eurosceptics predicted in vain the imminent end of the Union, this especially after a British referendum - BREXIT on the exit of the Great Britain from the Union. As the Community existed before joining Great Britain (1973), also the Union, as its legal successor will exist after British withdrawal. There is no doubt that this is a serious blow for further development of the EU, which imposes the necessity of implementation of comprehensive reforms of the Union. If in the EU practice of implementation of the Lisbon Treaty, would prevail an effectiveness of the functioning of the EU institutions, it will be a realistic conclusion that it is a democratic Union with the optimal institutional architecture. In case of opposite development, the EU will face with further rise of extremism in its Member States.