The Brexit Withdrawal Agreement of November 2018: What You Need to Know
On November 14, 2018, the United Kingdom and the European Union reached a draft agreement for the UK`s withdrawal from the EU, commonly referred to as the “Brexit Withdrawal Agreement.” The 585-page document outlines the terms of the separation, including the financial settlement, citizens` rights, and the Irish border.
One of the most contentious issues during the negotiations was the question of the Irish border, which would become the only land border between the UK and the EU after Brexit. The agreement includes a “backstop” solution that would keep Northern Ireland aligned with certain EU rules if a trade deal cannot be reached. This has been a major point of contention within the UK, as some see it as a threat to the country`s sovereignty.
The agreement also addresses the rights of EU citizens living in the UK and vice versa. Those who have been living in their host country for at least five years will be allowed to stay, while those who have lived there for less time will have the opportunity to apply for settled status. The agreement also establishes a joint committee to oversee the implementation of citizens` rights.
Another critical element of the agreement is the financial settlement. The UK has agreed to pay a “divorce bill” of £39 billion to the EU, covering outstanding payments and commitments made during its membership. The UK`s contributions to the EU budget would also continue throughout the transition period, which is set to end on December 31, 2020.
The Brexit Withdrawal Agreement is just one part of the process of the UK leaving the EU. It sets the terms for the transition period, during which the two sides will negotiate a new trade deal. However, the agreement must be approved by both the UK and EU parliaments before it can take effect. If it is not ratified, the UK could leave the EU without a deal in place. This would have significant implications for both sides, as it would create uncertainty around trade, borders, and citizens` rights.
In conclusion, the Brexit Withdrawal Agreement of November 2018 is a comprehensive document that outlines the terms of the UK`s separation from the EU. While it has garnered significant criticism from both sides, it is a necessary step in the Brexit process. As the UK moves forward with negotiations for a new trade deal, the agreement will continue to shape the relationship between the two sides.
