Background

On June the 23rd, 2016 the British people have declared in a national referendum (Brexit) that they wanted to withdraw from the European Union. 51.9% of them have voted for “Leave”. Wikipedia

The next steps

Now the British government formally has to notify the European Council of the UK’s intention to withdraw from the EU in accordance with Article 50 of the Treaty of the European Union. Wikipedia

Next, the UK and the European Union have to find a special agreement about their futural relationship.

The following outcomes are possible:

1. The UK joins the “European Economic Area” (EEA) (Norway model).

2. There will be a bilateral agreement between the UK and the EU (Switzerland model).

3. The UK withdraws its notification to withdraw from the EU.

4. The EU may extend the withdrawal agreement negotiation period beyond 2 years.

5. The withdrawal may become effective 2 years after the Brexit notification without the UK and the EU reaching an agreement about a special relationship.

Also it is still possible the UK does not notify the EU of its intent to withdraw from the EU.