‘United Kingdom and European Union finally have a Brexit deal’ | NOW

After long negotiations, the European Union and the United Kingdom have finally reached an agreement on the future trade relationship. Sources reported this to Reuters news agency. Both parties will hold a press conference around four on Thursday afternoon.

Negotiations took place until the very last moment and even on the day of the agreement there were still delays. In particular, agreements on fishing in British waters were a stumbling block.

The British have not been part of the Union since 1 February, but there was a transition period for trade until the end of this year. Until then, the free trade rules apply as they apply within the customs union of the European countries. Now, seven days before the deadline, there is finally an agreement.

The parties were unable to reach agreement for a long time, especially in the areas of fisheries, state supervision and a level playing field. Ultimately, it was possible to reach agreement on this. It is now up to the parliament of both the EU and the UK to approve the deal.

The agreement makes a hard Brexit, a departure without a deal, seem to be off the track. Such a departure would cause a lot of chaos, because trade back and forth would suddenly be a lot more difficult and also much more expensive.

With the new trade agreement, the Brexit troubles that have persisted since the outcome of the Brexit referendum in 2016 seems to come to an end on 1 January. Since the referendum, two British prime ministers threw in the towel, there were three different Brexit ministers and there have been two elections in the UK.

This message will be supplemented.


Leave a Reply

Your email address will not be published. Required fields are marked *