Transition economy to the IMF, Iran is in transition to a market economy, demonstrating early stages of a transition economy. The eight first-wave accession countries, which joined the European Union on 1 May 2004 (Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia) and the two second-wave accession countries that joined on 1 January 2007 (Romania and Bulgaria) have completed the transition process. According to the World Bank, "the transition is over" for the 10 countries that joined the EU in 2004 and 2007. It can be also understood as all countries of the Eastern Bloc. "Transition economics" is a special branch
United Kingdom invocation of Article 50 of the Treaty on European Union bill that was passed as the European Union (Notification of Withdrawal) Act 2017. Article 50 provides an invocation procedure whereby a member can notify the European Council and there is a negotiation period of up to two years, after which the treaties cease to apply with respect to that memberalthough a leaving agreement may be agreed by qualified majority voting. In this case, 20 remaining EU countries with a combined population of 65% must agree to the deal. Unless the Council of the European Union unanimously agrees to extensions, the timing for the UK leaving under the article is the