In 2016, the United Kingdom voted to leave the European Union, a decision that sparked widespread debate and controversy. After years of negotiations, an agreement on the withdrawal of the United Kingdom from the EU was finally reached on November 14, 2018.
The agreement agreed upon between the UK and EU, commonly known as the Brexit deal, outlines the terms of the United Kingdom`s departure from the EU. It covers a range of topics, including citizens` rights, the financial settlement, the Irish border, and the transition period.
One of the key provisions in the agreement is the transition period, which is set to last until December 31, 2020. During this time, the UK will continue to follow EU rules and regulations, and the two sides will work to negotiate a future trade deal. This transition period can be extended for up to two years, if both sides agree.
Another important aspect of the agreement is the financial settlement. The UK agreed to pay a divorce bill of around £39 billion to the EU, covering its outstanding financial obligations. This payment will be made over a period of several years.
The agreement also contains provisions on citizens` rights. EU citizens living in the UK and UK citizens living in the EU will be able to continue to live and work in their respective countries, with the same rights and protections as before.
Perhaps the most controversial aspect of the agreement is the backstop arrangement for the Irish border. The backstop is a measure designed to prevent a hard border between Northern Ireland, which is part of the UK, and the Republic of Ireland, which will remain a member of the EU. If no future trade agreement is reached that avoids a hard border, the backstop will come into effect, which will keep the UK in a customs union with the EU until a solution can be found.
Overall, the agreement on the withdrawal of the United Kingdom from the EU represents a significant milestone in the Brexit process. While there are still many challenges ahead, including the negotiation of a future trade deal, the agreement provides a framework for the UK`s departure from the EU.
