Brexit and EU Agreement: What You Need to Know

With the United Kingdom (UK) officially leaving the European Union (EU) on January 31, 2020, negotiations have been underway to reach a new agreement between the two entities. Here’s what you need to know about Brexit and the EU agreement.

What is Brexit?

Brexit refers to the UK’s decision to leave the EU, which it had been a part of since 1973. The decision was made in a 2016 referendum, in which 52% of voters chose to leave the EU. The UK officially left the EU on January 31, 2020, after a lengthy process that included negotiations, extensions, and political turmoil.

What is the EU?

The EU is a political and economic union of 27 European countries. It was formed after World War II to promote peace, stability, and economic prosperity in Europe. The EU operates on the principles of freedom of movement of goods, services, capital, and people.

What is the current state of the Brexit and EU agreement?

Negotiations for a new agreement between the UK and EU have been ongoing since the UK’s decision to leave the EU. The key issues for negotiation include trade, security, and migration. In December 2020, the UK and EU reached a last-minute agreement on these issues, just days before the UK’s end-of-year deadline to leave the EU’s single market and customs union.

What does the agreement include?

The agreement includes provisions for trade between the UK and EU, as well as rules for cooperation in areas such as security and law enforcement. It also includes provisions for citizens’ rights, such as the ability to live and work in another country, and a framework for resolving disputes between the two entities.

What are the implications of the agreement?

The agreement has both positive and negative implications. On the positive side, it provides some certainty for businesses and citizens who would have otherwise been affected by a no-deal Brexit. It also preserves some of the trade ties between the UK and EU, which will help to mitigate the economic impact of Brexit.

On the negative side, the agreement does not cover some areas, such as the services sector, which accounts for a significant portion of the UK’s economy. It also includes new border checks and customs procedures, which will increase trade barriers for some businesses. Finally, it does not address some of the broader political issues that led to Brexit in the first place, such as immigration and sovereignty.

What’s next for Brexit and the EU agreement?

The agreement is a starting point for the UK and EU’s future relationship, but there are likely to be ongoing negotiations and disputes in the years to come. In the short term, businesses and citizens will need to adapt to the new rules and procedures. The long-term implications of Brexit and the EU agreement are still uncertain, but they will undoubtedly shape the political and economic landscape of Europe for years to come.