NEW BREXIT DEAL APPROVED BY THE HOUSE OF COMMONS NEEDS ANOTHER EXTENSION PERIOD

Petre Prisecaru

Euroinfo, 2019, vol. 3, issue 10, 29-39

Abstract: After the British Parliament rejected in September the holding of general elections and decided to postpone Brexit and Supreme Court overturned the suspension of Parliament by the Queen at the request of Prime Minister, on 17 October a new revised deal was concluded between the British government and the EU. Hence, our paper proposes to presents the terms of the new deal on Brexit while highlighting the implications for the future of UK and EU separation. The new deal changed the so-called Irish backstop, setting a favorable customs regime for Northern Ireland, which remains basically in a customs union with Ireland and keeps EU VAT regime. Other key areas relate to the period of transition, British and EU citizens' rights, the financial obligations of Great Britain reduced to £ 33 billion, the future of bilateral relation. On 19 October the Parliament approved the new deal provided a Brexit extension is accepted by the EU, and subsequently rejected Boris Johnson's plan to speed up legislation to implement his agreement in three days. Boris Johnson and some Torry leaders insist on the general elections as soon as possible, and the President of European Council Donald Tusk has proposed to extend Brexit up to January 31, 2020.

Keywords: Brexit agreement; parliament; government; deal implementation (search for similar items in EconPapers)
JEL-codes: F13 F15 F22 F36 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:3:y:2019:i:10:p:29-39

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