Starting February, the U.K is no longer a part of the EU. But, it takes as short as 11 months for both blocs to finalize their deals. (Image via Euronews)

The U.K finally exits European Union

Alfonsus Adi Putra
Politics & Economic
International
Feb 01, 2020
2668
Starting Saturday at 11 p.m. local time, the United Kingdom (U.K) officially exited itself from the membership of the European Union (EU).

On a video, the Prime Minister of the U.K, Boris Johnson, congratulated the succession of Brexit. He referred to Brexit as an opportunity to retain the U.K’s sovereignty and fulfill the aspiration of his voters. Reportedly, the PM will throw a party at Downing Street 10 with all the cabinet members.

Noting that the EU has been going on for 50 years, Johnson said that the EU has turned aside and no longer been in line with U.K’s goal.

The anti-EU British wanted the U.K to exit the EU because they see the EU has been scraping the country’s sovereignty, halting the U.K’s economic growth as the sixth-largest in the world, and immigration issues. EU demands the U.K to not limit the mobilization of its immigrants, making the British afraid of losing domestic job opportunities.

When the Brexit Referendum was held in June 2016, about 52 percent of British people want the U.K to break free.

Despite the Brexit, the U.K will have 11 months to 31 December 2020 to settle all agreements with the EU. The British are still permitted to work in EU countries for the time being; so be the trade agreement between the U.K and EU countries.

However, due to the Brexit, the U.K and EU have to renegotiate all the deals covering trade, defense, security, and telecommunication. A handful of parties argue that the deal can be covered in just 11 months.

If both blocs could not finalize the deal until 31 December 2020, it might negatively affect both blocs’ economic growth.

Source: https://bit.ly/2UflsVn

Business , Politics , Trade , Economy , Finance , Europe , EU , U.K , Brexit , Boris-Johnson