The Lisbon Treaty updated regulations for the European Union, establishing a more centralized leadership and foreign policy, a proper process for countries that wish to leave the Union, and a streamlined process for enacting new policies. The treaty was signed on December 13, 2007, in Lisbon, Portugal, and amends the two previous treaties that established the foundation for the European Union. The Lisbon Treaty was signed by the 27 member states of the European Union and officially took effect in December of 2009, two years after it was signed. It amends two existing treaties, the Treaty of Rome and the Maastricht Treaty. The Lisbon Treaty was built on existing treaties but adopted new rules to enhance cohesion and streamline action within the European Union. Incorporation of article 50 was there which establishes procedure for leaving the group. Recently, BREXIT was in the news for invoking this treaty.
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