Not so fast. The EU has already accepted that the UK is gone. They are pressuring for negotiations to start, and refusing to do any kind of informal negotiation. It does not look like they are afraid of negotiating at all, which suggests they have a good position.

The UK, on the other hand, ... I don't even know what the UK is doing. Are they even going to follow through?

My impression is that the UK is going to drag its feet for years to come and not activate article 50 in a long time, until your internal political climate either forces a new referendum or general elections [1]:

> Some, however, have warned Britain “may never” trigger the formal divorce process because the tight deadline for talks puts the leaver in a weak position. “I personally believe they will never notify,” one diplomat said. “The moment you push the button you’re in a stupid negotiating position.”

In the meantime, the UK's role in the EU has been permanently damaged, and some important decisions are being taken [2]:

> As shockwaves from the Brexit vote continued to spread, EU officials also said on Sunday the bloc was preparing to move its European Banking Authority from London, setting up a race led by Paris and Frankfurt to host the regulator.

[1], [2] http://www.theguardian.com/politics/2016/jun/27/europe-leade...