EU Frees up Disaster Funding for Possible no-Deal Brexit
European Commission unveils latest plans for UK departure without agreement, Politico reports.
It’s official: EU officials are now treating no-deal Brexit as a potential disaster scenario, with emergency funds authorized to help businesses, workers and regulatory systems in EU27 countries hit hard by a disorderly departure of the U.K.
The European Commission on Wednesday stepped up its no-deal preparations and put forward a plan allowing access to two special funds to help address the possible economic impact of a no-deal Brexit.
Under the new proposal, the EU would "extend the scope of the European Solidarity Fund to cover serious financial burden inflicted on Member States directly imputable to a withdrawal without an agreement and that could not be avoided by preparing in advance."
The EU executive also warned that companies and citizens should be prepared for a no-deal scenario, publishing a preparedness checklist for businesses, and proposed technical adjustments in the form of a regulation ensuring basic road freight and road passenger connectivity, a regulation on basic air connectivity, and a regulation on fishing authorizations.
Other materials on this subject
- UK and Japan Agree Historic Free Trade Agreement But it is unclear whether the UK has won an export quota to match the one it had as a member of the EU.
- Boris Johnson Tells EU that Free Trade Deal Must be Done by 15 October In that case, Britain would be ready to find sensible accommodation with the bloc on practical issues such as flights, lorry transport or scientific cooperation, according to the excerpts.
- EU Announced Diplomatic Mission In London The EU External Action shortly after the Brexit issued a statement and announced that the EU’s diplomatic mission in London will be carried out by the EU delegation led by Ambassador diplomat Joao Vale...
- UK PM Johnson Plans 'Respectful' Brexit Celebration After three years of wrangling over whether Brexit should go ahead and how best to do it, Johnson has agreed a deal with the EU that will see Britain continue to abide by the bloc’s rules until the end...
- EU Chiefs Sign Brexit Deal ahead of Parliamentary Vote Then, on Thursday next week, diplomats from the EU member states will approve the deal in writing, ensuring Britain’s orderly departure at midnight on January 31.
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