The United Kingdom will finally leave the European Union on 31 January after 47 years. What will the country's future look like after Brexit? The next 11 months will provide a strong indication.
The UK has entered a transition period over its future trade deals and legal arrangements with the European Union that will end on 31 December. However, Ireland now fears that Britain may end up not reaching a comprehensive trade agreement with the bloc, signalling risks for the Irish economy.
Boris Johnson has long argued for an ambitious free trade agreement with Washington post-Brexit, seeking to open up opportunities for British businesses and investors, amid warnings from critics that a deal with the US will require accepting looser US food and environmental standards, and risks opening up the NHS to American firms.
Delayed by the current COVID-19 pandemic, Brexit negotiations resumed this week as the UK and Brussels are pushing forward with negotiating a deal; the transition period is scheduled to end on 31 December 2020, with Boris Johnson ruling out extending it, notwithstanding the volatility of the global situation.
Due to the ongoing coronavirus crisis, reports have emerged that the UK may have to make significant contributions to Europe’s economic recovery from the pandemic if it agrees to extend the Brexit transition period beyond 31 December. So far, Downing Street has not been too keen on prolonging this divorce saga.
On 16 April David Frost, the UK's chief negotiator, re-iterated Downing Street's stance that Britain would refuse to extend the Brexit transition period beyond 31 December 2020 even if Brussels requested a delay.
On Sunday UK Finance Minister Rishi Sunak was weighing the merits of higher borrowing to shore up the economy, help businesses and tackle the coronavirus crisis, as markets wait await the the budget, which is set to be unveiled on Wednesday, 11 March.
The first round of talks between the UK and EU in Brussels ended in a stand-off over a range of issues, as the UK has been eyeing a Canada-style free trade agreement post-Brexit, while Brussels is resolved to maintain “fair competition” and seeks to ensure a “level playing field”.
Following the first round of the UK-EU trade talks, the bloc's Brexit negotiator Michel Barnier stated on Thursday that there's a "serious divergence" between the two parties.
The UK left the European Union on 31 January, making Brexit a reality, and entered a transition period that gives London and Brussels until the end of the year to conclude a spate of crucial agreements, including a free trade deal.
Earlier, the Greek government reignited a heated diplomatic debate over demands to return alleged “historic plunder” like the Elgin Marbles currently on display in the British Museum to Athens after a draft of ongoing post-Brexit trade negotiations was leaked to the public.
Despite having an option to apply for permanent residence permit free of charge, hundreds of Swedes have elected to become full-fledged British citizens with voting rights.
Earlier, Downing Street mocked the apparent “disarray” in Brussels over plans for a post-Brexit trade deal, as negotiations between the two sides scheduled to begin in March draw nearer, while touting the “clear decision-making” of the UK side.
Earlier, the UK government signaled it would publish its mandate for the trade deal with the EU later in the week, with ministers expected to seek a Canada-style deal that has already faced scathing criticism in the EU.
The UK officially ceased being an EU member on 31 January. For the next 11 months, London and Brussels will try to settle the pending issues in how they want their future relations to look like.
Remainers in Britain repeatedly said that the UK would suffer economically from leaving the customs union, but recent statistics show that British economy might actually be performing better that the EU average.
Following the UK’s withdrawal from the European Union, London is now tasked with negotiating trade deals with foreign countries, including with the EU itself, during the transition period.
Despite a clear majority of Norwegians polling against joining the EU in recent decades, several parties, including the governing Conservatives, are working to replace the current European Economic Area arrangement with full EU membership.
On 31 January, the United Kingdom became the first country to leave the European Union after more than four decades in the bloc and its preceding organisations, marking the start of a new era as well as potentially spelling the beginning of new challenges for the political and economic entity comprised of 27 remaining states.
Today is Brexit Day. Today is Nigel Farage’s day. But most importantly today is your day. Make no mistake you, the great British Public are the ones most responsible for delivering our country back from the ‘mafia’ like grip of the undemocratic EU.
The three presidents of the main EU institutions say that five decades worth of interconnected policies between their economic bloc and the UK will have to be dismantled and then reconstructed in order to chart a “new way forward as allies, partners and friends”.