London Is Concerned by the Political Consequences of Brexit

• 03.29.2018, 12:19
•  Europe,  World

hurriyetdailynews.com

Although the Great Britain plans to leave the European Union in 2019, it will have to make allocations to the EU budget in 2019 and 2020.

"In 2019 and 2020 the United Kingdom is obliged to make allocations and participate in the implementation of the EU budget,"   as stated in the document on the preliminary agreements reached between the EU and Great Britain in the framework of the negotiations on Brexit.

At the end of the another stage of Brexit negotiations, the EU Chief Negotiator Michel Barnier declared on March 19 that the sides had already agreed on the main parts of the "divorce" agreement. Particularly, agreements were reached on the rights of the citizens of the UK and the EU, which can be affected by Brexit, on the financial obligations of the United Kingdom after leaving the EU as well as on the relations of the sides after Brexit, particularly in the transition period from March 29, 2019 to December 31, 2020. The latter assumes that during that period the Great Britain will preserve all the rights given to the EU members except of the right to vote. The UK and EU negotiators called the agreements reached on the transition period as a decisive step.  Still some political circles in Britain do not share this optimism and think that the results of the negotiations cannot be considered successful as in fact the term of the real Brexit is prolonged. At the same time the British complain of the fact that the problem of the border with Ireland, which they consider to be an internal one, London should regulate with Brussels.

These are not the only issues that irritate the British during the process of leaving the EU. The director on geopolitical studies at the Brussels-based European Institute for International Relations (IERI) Pierre-Emmanuel Thomann thinks that the British are also irritated by the prospective of the improved relations between the EU and Russia and in this context by the reduced role of the NATO, as in that case the Great Britain will be isolated. According to him Skripal case aimed at counteracting the very challenge.

Thus, at this stage the British are more concerned by the political and not economic consequences of leaving the EU. While the economic consequences of Brexit promise also to be big enough. According to joint-research of Oliver Wyman, global management consulting firm  and Clifford Chance, multinational law firm, after Brexit,  for the British and EU companies annual expenses worth 65 billon are expected because of customs, while its main part 35 billion euro, will be on the EU part.