Article 50 could still be revoked according to a draft paper (Picture: REUTERS/Yves Herman/Photo Illustration)

If you feared Article 50 meant there was no going back there might be hope on the horizon.

The European Parliament said in a draft paper on Wednesday that Article 50 can be revoked.

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The draft, which must be approved next week, also states that London-based EU agencies such as the European Banking Authority and the European Medicines Agency must move as soon as possible.

But the concession that Article 50 – and therefore Brexit – can be revoked is seen as strengthening the hands of those that want to remain in the EU.


The European Parliament will have a final say on any deal struck with Britain.

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The European Parliament will have a final say on any deal struck with Britain (Picture: Carl Court/Getty Images)

European Parliament Brexit negotiator Guy Verhofstadt said today that in order for Article 50 to be revoked it would require the support of all 27 members.



The legislature’s Brexit team, led by former Belgian Prime Minister Guy Verhofstadt, accepted that in case of Brexit there should be transitional arrangements to smooth the divorce, but stressed they cannot last more than three years and should also be ‘strictly limited’.

Negotiations on such transitional arrangements can start only after ‘substantial progress’ is made on a withdrawal agreement that should include a Brexit bill, guarantees for citizens’ rights and legal certainties for companies, the document said.

Britain should also recognise that the European Court of Justice, the EU’s top court, will be the ‘competent authority for the interpretation and enforcement of the withdrawal agreement’, the statement said.

Brexit - how did we get here? (Picture: AP) A timeline of key events related to Britain's decision to leave the European Union: Jan. 23, 2013: British Prime Minister David Cameron promises a referendum on Britain's membership to the EU if the Conservative party is elected in the next general election. He does so to try to garner support among euro-skeptics within his own party. Sept. 18, 2014: Scottish voters decide in a referendum to remain part of the United Kingdom rather than become an independent country. May. 7, 2015: British voters elect a majority Conservative government. Cameron confirms in his victory speech that there will be an in/out referendum on European Union membership. Feb. 20, 2016: Cameron announces that he has negotiated a deal with EU leaders which will give Britain 'special status'. He confirms that he will campaign for Britain to remain in the 28-nation bloc. The referendum date is set for June. Boris Johnson MP (R) and Michael Gove MP address workers during a Vote Leave campaign visit t (Picture: Getty) Feb. 21: Cameron is struck with a severe blow as one of his closest Conservative allies, the media-savvy Boris Johnson, joins the Leave campaign. June 16: One week before the referendum, Labor MP and Remain campaigner Jo Cox is killed by extremist Thomas Mair who shouted "Britain First" before killing the mother of two. June 23: Britain votes 52 percent to 48 percent to leave the European Union. As the results come in, UKIP leader Nigel Farage proclaims that this day should be considered Britain's 'independence day'. Leader of the United Kingdom Independence Party (UKIP), Nigel Farage reacts at the Leave.EU referendum party (Picture: Getty) June 24: Cameron says he will resign in light of the results because Britain needs 'fresh leadership' to take the country in a new direction. July 11: Following a heated leadership contest, Home Secretary Theresa May becomes prime minister-elect when her competitors withdraw from the race. Oct. 2: May says that Britain will begin the formal process of leaving the EU by the end of March 2017. In order to do this the British government would have to invoke Article 50 of the EU's Lisbon Treaty. Jan. 24, 2017: The British Supreme Court rules that parliamentary approval is needed before Article 50 can be triggered by government. March 13: Britain's Parliament approves a bill giving the government the authority to invoke Article 50. Scotland's first minister, Nicola Sturgeon, says she plans to have a second referendum on Scottish independence in late 2018 or early 2019. March 28: May signs the letter that will trigger Brexit at 10 Downing Street. March 29: Brexit is formally triggered when the letter is hand-delivered to EU Council President Donald Tusk at 1220 BST. Tim Barrow, the UK Permanent Representative to the EU, arrives at the Europa building in Brussels on Wednesday, March 29, 2017 (Picture: AP)

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