However, he says that following some weakness in the run-up to the triggering of the Article 50 process that “it is worth being prepared for a possible case of traders selling the news and buying the fact today.”

The EU official who will receive the letter from Britain that formally triggers Brexit says the handover will take place at 1:20 p.m. Brussels time (1120 GMT; 7:20 a.m. EDT)

European Council President Donald Tusk tweeted: “At 13.20 today, UK #Brexit notification letter (article 50) will be handed to me by Ambassador Tim Barrow.”

The original timing was given as around 1130 GMT (7:30 a.m. EDT). Denmark’s prime minister says Britain’s “goodbye” to the European Union is “incredibly sad,” adding he expects “many bumps on the road.”

Lars Loekke Rasmussen said in a statement that he hopes “the divorce” will take place in “an orderly fashion.”

He said that Britain’s decision to leave the EU and the inner Market “will have consequences.”

The Danish government leader said “rights and responsibilities go hand in hand in the European Union. Since the country voted to leave the EU in a referendum last June, the currency has suffered a steep decline, losing around 20 percent of its value as traders fret over the potential economic impact of the decision to leave the world’s largest trading bloc. Similarly, we understand that there will be consequences for the UK of leaving the EU: we know we will lose influence over the rules that affect the European economy. Jean Asselborn said in Serbia’s capital that “we cannot punish a country that wants to leave the European Union.” But, he added that “when (British Prime Minister) Theresa May says no deal is better than a bad deal I think that’s for both sides, not only for one side.”

Asselborn explained that “with Brexit the European Union will lose a little bit of money, that’s clear, because the contribution of the U.K. was substantial.”

He also warned that “if you are a member of the European Union, you are member of the European Union until the last moment, and you have to fulfill your engagements.”

Estonia’s prime minister says that “we cannot allow ourselves to be paralyzed by Brexit” and “we must decisively move on together.”

Juri Ratas says that “we accept this notice with regret in our hearts,” adding the priority “is to reduce the insecurity of the people and companies that could be influenced by the United Kingdom’s withdrawal.”

In a separate statement, the Estonian government said that triggering Article 50 ended “uncertainty on the U.K.’s intentions on leaving the EU and the exit’s timeframe.”

French centrist presidential candidate Emmanuel Macron says his priority after Britain’s formal request to leave the European Union would be to protect the bloc and European interests. May’s six-page letter to Tusk was polite and conciliatory, stressing that Britons want to remain “committed partners and allies to our friends across the continent.”

She said the two sides should “engage with one another constructively and respectfully, in a spirit of sincere cooperation.”

But there was a hint of steel in May’s assertion that without a good deal, “our cooperation in the fight against crime and terrorism would be weakened.” That could be seen by some in Europe as a threat to withdraw British security cooperation if the U.K. does not get its way. The letter, which was handwritten, triggers Article 50 of the Lisbon Treaty, starting a formal two-year negotiation period in which the U.K. will seek to form a new relationship with the economic bloc. We should work together to minimise disruption and give as much certainty as possible

Investors, businesses and citizens in both the UK and across the remaining 27 member states – and those from third countries around the world – want to be able to plan. However earlier this week the European Commission’s chief negotiator Michel Barnier claimed no trade deal was a ‘distinct possibility’ at the end of the two-year negotiating period. The diplomat, who wasn’t authorized to be quoted by name, dismissed such views Wednesday, noting that Britain will have to grapple with the fallout from its departure from the EU’s single market. There are, for example, many citizens of the remaining member states living in the United Kingdom, and UK citizens living elsewhere in the European Union, and we should aim to strike an early agreement about their rights. The U.K. has raised the prospect it could walk away without a deal if talks falter, though May said in her letter that both sides should “work hard to avoid that outcome.”

Brexit has profound implications for Britain’s economy, society and even unity. v. In particular, we must pay attention to the UK's unique relationship with the Republic of Ireland and the importance of the peace process in Northern Ireland

The Republic of Ireland is the only EU member state with a land border with the United Kingdom.
British Prime Minister Theresa May signs a letter invoking Article 50 of the Treaty on European Union. Its notification to the European Council tomorrow will formally begin the UK's withdrawal from the European Union.