Brexit: What's Happening and What Comes Next?

It has been a busy year in the news, with the coronavirus epidemic and the US presidential election making headlines.

The deadline for Brexit has come and gone, but it is now fair to say that the crunch time for Britain's departure from the European Union is rapidly increasing.

So, given what is going on, it seems like a good time to be where we are.

 

Remind me - what is the current situation?

Britain actually left the European Union on 31 January, but the bloc's rules continue to be followed until the end of the year.

These 11 months of transition were designed to give both sides some breather to negotiate a post-Brexit deal.

Such a deal would shape the UK's future relations with its European neighbors, discussing key areas such as trade and immigration.

 

These talks are to set the rules for the new UK-EU relationship which will begin on 1 January 2021 - whatever.

But remember: Any agreement will require both parties to get the green light from the parliaments, so the time is running out.

Got it. So how are the talks going? 

Well, they have some ground to a standstill.

Negotiations began in March, but Pragati remained fit. During the summer, the EU's top negotiator Michel Barnier said a deal seemed impossible, while Britain said it was not afraid to walk away from the negotiating table altogether.

Was not positive at all then.

The main sticking points are fishing - namely how much EU boats should have access to the UK waters - and state aid. The latter controversy revolves around whether the UK government should be allowed to subsidize failed companies, something that is not generally allowed under EU rules.

When the UK government published a controversial bill in September, the EU was also unhappy - the Internal Markets Bill - which could revoke the withdrawal agreement already signed with the European Union. The European Union's concerns center on future arrangements for Northern Ireland.

Talks resumed on Monday in Brussels, an important week. Sticking marks, however, remain stubbornly in place.

What can happen next?

That is the million-euro question.

If a deal is not agreed before 31 December, Britain will leave the EU's main trading system - the Single Market and Customs Union - and trade with the same terms as the US or China.

 

A basic deal agreed upon in time is still a possibility. Politicians on both sides, however, are going to make concessions very quickly.

The agreement must be converted into a legal text by the parliaments on all sides, before the deadline of 31 December, which has been translated, and will then be ratified by both parties.

And even if there is a deal, the UK-EU relationship will vary by 2021. There will be far more bureaucracy for businesses doing business on the border, for example, and free movement of people in both directions. One end.

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