Leaving the Euro

Unilateral withdrawal from the EU or EMU

The reference to 'unilateral' withdrawal is hardly unintentional. The distinction between unilateral and negotiated withdrawal is significant, since any inquiry into the existence of a lega right of withdrawal can only concern a non-negotiated withdrawal (negotiated withdrawals are, in principle, always possible). The purpose of this part is to ascertain whether a right of unilateral withdrawal is compatible with the Community legal order and to examine the main features of and concerns raised by an 'exit clause' recently enacted now that the Lisbon Treaty has been ratified.