Interesting article:
http://econ.st/2nE2dnM
The timetable is tighter even than it looks. The sides may spend weeks arguing over process. The EU wants to fix the terms of the Article 50 divorce, covering such matters as the rights of citizens resident in other countries and Britain’s multi-billion-euro exit bill, before starting work on a future trade deal; Mrs May wants to negotiate on everything at once. Nothing much will be agreed on before the German election in September. At the end of it all, ratifying the deal will take six months. That leaves little more than a year for the talks themselves.
Mrs May needs not merely to soften her tone, as she has started to do this week, but to lower expectations. Instead of threatening to undercut her European partners by building an unregulated Singapore-on-Thames (something that, despite its appeal to free-traders, would horrify most Brexit voters), or hinting that Britain might co-operate less fully on security, or claiming that the EU needs Britain more than the other way round, she should accept that in these negotiations she holds the weaker hand. She should hence be more flexible over payments into the EU budget, a subject her letter skates over.