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Petre Prisecaru

Euroinfo, 2020, vol. 4, issue 1, 32-45

Abstract: After Torries won the elections in December 12th, last year, Great Britain left officially the EU on January 31, 2020, but it remains the negotiation of the future relations between EU and Great Britain, especially trade deal after March 1, 2020 until the end of the transition period this year. Boris Johnson wants to separate from Thatcherism by a greater state involvement in the economy. The British Government has said that Great Britain must leave the customs union and the single market and end the general jurisdiction of the ECJ. There are problems with fisheries and respecting the environment, tax and employment standards in the EU. High requirements on bahalf of the EU were treated with refusal by the British government representatives, who said repeatedly that Britain will not align with EU regulations at the expense of a free trade agreement. Between a soft Brexit probably modeled on the pattern of European Economic Area and a hard Brexit involving a minimum lining up to EU rules and regulations, the British government prefers the last one. Unfortunately Great Britain would lose influence on EU decisions and policies, and will lose some importance as a financial centre and exporter of financial services.

Keywords: trade deal; government; negotiations; regulations; Brexit impact (search for similar items in EconPapers)
JEL-codes: F13 F15 F22 F36 (search for similar items in EconPapers)
Date: 2020
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Handle: RePEc:iem:eurinf:v:4:y:2020:i:1:p:32-45