Diritto ed Economia dell'ImpresaISSN 2499-3158
G. Giappichelli Editore

15/05/2018 - Unknowns on the Understanding EU-UK: OK to Brexit: transition but with doubts

argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: Brexit

The agreement on Brexit reached by the European Union and the United Kingdom leaves many questions unanswered even if the rules indicated for the transition phase have seen back, and not a little, Great Britain from the initial positions. London was forced to make a series of concessions to reach a transition agreement with Brussels. The first concerns the timing. The second concerns two fronts: the first political (the redefinition of the legal status of Northern Ireland), the second economic and trade (inherent the Republic of Ireland). There are only two certainties: the transition will last 21 months, until December 31st 2020; costs for the United Kingdom will be € 37 billion distributed over several years and EU projects, up to 2064. Summarizing: Britain and the European Union have agreed the terms of a transitional transition period which will start when the United Kingdom leaves the Union in March 2019, and will see its end in December 2020, then a time span spread over two years, which according to experts should transmit more than one reassurance to companies concerned by an imminent and precipitated regulatory solution.