Brexit pangs
Brexit, once hailed as a grand natural experiment for economists to dissect the repercussions of leaving a low-friction trade environment, has proven messier than anticipated.
Brexit, once hailed as a grand natural experiment for economists to dissect the repercussions of leaving a low-friction trade environment, has proven messier than anticipated.
The light-touch checks under the grace period for supermarket products will expire at the end of September.
Rishi Sunak, the son-in-law of Infosys founder NR Narayana Murthy and the MP from Richmond, Yorkshire, since 2015, was virtually unknown even a year ago. “Just five out of 1,191 named Rishi Sunak” in a poll conducted in December 2019 by Tim Bale, a professor of politics at the Queen Mary University.
Half a decade of the British cohabitating with their Continental cousins has now ended, launching the UK on a path of its own making, free from EU laws, able to strike trade agreements with other countries around the world, and reshape its economy, society and governance structures.
The UK was adamant throughout the negotiations that it be treated as a sovereign equal of the EU and have its independence respected. This was particularly important when it came to fishing rights – one of the last issues to be resolved.
The two sides have been working on the legal text of a deal, but it will still need the approval of both the UK and European Parliaments.
The statement was seen as a major setback for Johnson, who would most likely need the support of his DUP allies in parliament for any deal agreed in Brussels.
EU leaders will be meeting for a two-day summit in Brussels from Thursday. Brexit will top the agenda as the Oct. 31 Brexit deadline looms.
The UK government added that if a plan was agreed, it would introduce a withdrawal agreement bill to be voted on Saturday in a special Parliamentary session.
With just 24 days before the United Kingdom is due to leave the EU, the future of Brexit, its most significant geopolitical move since World War Two, is uncertain.
