The EU: Brexit

The EU: Brexit

Brexit

• The term “Brexit” stands for “British Exit” which refers to the UK’s decision in a June 23, 2016 referendum to leave the European Union (EU).
• The vote’s result lent credibility to the anti-EU UK Independence Party, which was led by one of Brexit’s loudest proponents, Nigel Farage.

Impacts of Brexit

• Brexit has had profound ramifications for the British political landscape and has been the cause of significant divisions within both the Labour and Conservative parties.

Political Context of Brexit

• Brexit was a political goal for many people for various reasons. The Eurosceptics, people opposed to the UK’s membership of the EU, span the political spectrum.

Brexit negotiation process

• The UK convened Article 50 of the Lisbon Treaty on 29 March 2017, starting a two-year countdown to Britain’s departure from the EU unless an extension is agreed.

Consequences of Brexit

• Brexit has led to broad economic and political changes in the UK, including new trade deals, pressures on the unity of the UK, and changes to the rights of EU nationals in the UK.

Withdrawal Agreement and Political Declaration

• The Withdrawal Agreement covers all elements of the UK’s withdrawal from the EU: citizens’ rights, the financial settlement, a transition period, Protocols on Ireland / Northern Ireland, Cyprus and Gibraltar, and other separation issues.

Future Relationship

• The political declaration sets out the framework for the future relationship between the European Union and the United Kingdom, as agreed at negotiators’ level on 14 November 2018, subject to endorsement by Leaders.