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Next stop Brexit – How the British want to leave the EU News

Saturday, September 2nd, 2017 | Economy

Since the British Prime Minister Theresa May on 29th March has applied for her resignation in accordance with Article 50 of the EU Treaties, the clock ticks for her: within two years the Brexit is to be executed. The deadline can only be extended under the Treaties if Great Britain and all other 27 EU countries agree.
The negotiations will be led by the former Internal Market Commissioner Michel Barnier from France. His opponent on the British side is Brexit minister David Davis. The following is a list of the most important stations on the way to Brexit.
These days, Barnier and Davis held their third round of negotiations after taking their talks on 19 June. The expectations of a breakthrough were low from the outset. The UK side wants to discuss the details of the strategy papers it had published last week. It is also concerned with questions of EU jurisdiction as a result of the Brexit or the handling of the border between the British Northern Ireland and EU member Ireland.
The EU side will also quickly resolve both problems. However, some points – such as the British proposal of a temporary customs union with the EU – affect future relations with the Community. However, the EU wants to negotiate the future only if the terms of the exit are clear. The negotiations also led to mutual accusations.
Both sides agree that an agreement should be reached as soon as possible on the rights of British and EU citizens in each other's territory. On the other hand, there is a dispute over the method of calculation used to establish the UK financial commitments to the EU.
On October 19 and 20, EU leaders will assess the state of negotiations in Brussels. If Barnier and Davis have made significant progress, then the UK-EU negotiations on a future free trade agreement between the UK and the EU will be launched.
Barnier wants to have negotiated the details for Brexit by October 2018. The Frenchman has described this timetable as very ambitious, because a huge number of provisions of the three-quarters of EU membership of Great Britain must be reversed. Other experts believe the schedule is simply impossible. Therefore, there could be numerous, multi-year transitional periods.
By March 2019, the time would come for the qualified majority of the 28 Member States and the simple majority of the EU Parliament to ratify the agreement.
On 29 March 2019, the Kingdom's EU membership ends, 46 years and three months after its entry into the Union. At the latest, the employees of the European Medicines Agency (EMA) and the banking supervisory authority (EBA) must have packed their suitcases, which so far are based in London.
If there were no agreement in the negotiations to resume, Great Britain would fall back on the status of a third country, which would be classified by the EU as a simple WTO member in trade matters. The consequences would be import duties and other trade barriers to the United Kingdom in such a scenario.
At London's financial center, chaos would break out, as the local banks would lose their access to the EU's internal market in one fell swoop without a future regulation. European companies would also be affected by exports to the British Isles.
It is unclear when the more comprehensive negotiations on future relations between Great Britain and the EU will be completed. May is striving for a free trade agreement with the EU within a few years, which is to be negotiated parallel to the Brexit.
On the other hand, the EU Commission already referred to the experience gained from other agreements such as Canada (Ceta), which was negotiated for six years. And the Ceta Treaty does not include any agreements on the complex area of ​​financial services which are of great importance to the UK.
The developments in British domestic policy are also unclear. May is said to be the only narrowly won parliamentary election in June. Whether their government will endure until the next round of elections in 2022 is open. If the British had to appoint a new parliament again before March 2019, the already tight timetable for the Brexit would probably be shaken. In the space, a second referendum on the EU exit would be possible.


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