Brexit Deal: Key Points from the Draft Withdrawal Agreement
After months of negotiations, the draft agreement for the United Kingdom`s withdrawal from the European Union has finally been released. The agreement contains many key points that will shape the future relationship between the UK and the EU. Here are some of the most important ones:
1. Transition Period: The UK will enter into a transition period from March 29, 2019 to December 31, 2020. During this time, the UK will no longer be a member of the EU but will continue to follow EU rules and regulations.
2. Citizens` Rights: EU citizens who are already living in the UK will be allowed to stay and will have their rights protected. UK citizens living in EU countries will have similar protection.
3. Financial Settlement: The UK will have to make a financial settlement with the EU to cover its obligations to the EU budget until the end of 2020.
4. Irish Border: The agreement includes a backstop arrangement to ensure that there will be no hard border between Northern Ireland and the Republic of Ireland. This arrangement will remain in place until a future UK-EU trade agreement is reached.
5. Governance: The agreement sets up a Joint Committee to manage the withdrawal process and resolve disputes between the UK and the EU.
6. Future Relationship: The agreement sets out a framework for the future relationship between the UK and the EU. This includes a free trade agreement, cooperation on security and defense, and continued participation in some EU programs.
Overall, the draft withdrawal agreement provides a starting point for the UK and the EU to build their post-Brexit relationship. However, the agreement still needs to be approved by the UK Parliament and the EU Council, which could lead to further negotiations and changes.