EU and UK reach agreement on transition period

The United Kingdom (UK) and the European Union (EU) have reached a political agreement on the transition period after the March 2019 Brexit. However, the issue of the status of the border with Ireland has not yet been resolved. So reports Business Insider.

The negotiating teams reached an agreement on Monday 19 March on a transitional arrangement of 20 months. The agreement provides that the UK will remain in the single European market and customs union until the end of 2020. The UK will also continue to fall under the jurisdiction of the European Court of Justice. The latter means that the British must comply with all EU rules.

However, the legal framework of the agreement will not be finalized until there is an agreement on the Irish issue. The question here is how to avoid a hard border between Northern Ireland and the Republic of Ireland.

Irish border issue
The EU indicated last month that Northern Ireland can remain in the customs union and thus remain part of the internal market. This is to avoid the need for physical border controls. The EU wants the UK to accept this option should it fail to find other solutions that both sides can agree on.

Prime Minister Theresa May has so far indicated that this proposal is unacceptable. Ireland's Deputy Prime Minister Simon Coveney said "progress" has been made on the Irish issue, he tweeted on Monday, March 19.

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The deal on the transition period was finalized on March 19 and was officially confirmed on Monday afternoon by EU chief negotiator Michel Barnier and Brexit minister David Davis. The plan is that the European heads of government will give their approval to the agreement on Friday 23 March, so that it can be submitted to the European Parliament.

Read more on Business Insider:
- Brits consider keeping borders with the EU open.

- With Brexit we will exchange a star dinner for a bag of chips, says a resigned British top official

- Brexit is like swapping a 'three course dinner' for 'a packet of crisps' says Liam Fox's former trade chief

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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