The Key Points in the Brexit Deal
From the Irish border to the divorce bill, the deal struck Friday between Britain and the European Union covers the main terms of divorce.
It also paves the way for the 2 sides to start negotiating on the Key points of their future relationship, such as trade.
Below is a look at the Key points in the deal, as follows:
THE IRISH BORDER
Britain, including Northern Ireland, will leave the EU tariff-less single market and customs union.
The deal commits to avoid a hard border between Northern Ireland and the Republic of Ireland, an EU member. A hard border might include physical infrastructure and controls. It is not clear how this can be reconciled with Britain’s exit from the single market and customs union.
A deal would ensure “full alignment” between Northern Ireland and the rules of the EU single market and customs union in order to honor the Good Friday agreement of 1998 that ensures peace in the region.
It affirms that “no new regulatory barriers” will be allowed between Northern Ireland and the rest of the UK This commitment was made to satisfy Prime Minister Theresa May’s allies in Northern Ireland’s Democratic Unionist Party.
EU citizens in the UK get the right to stay, as do UK citizens living in the EU.
The European Court of Justice will have a role in overseeing the rights of EU citizens in the UK for 8 years after Brexit.
Britain will not pay a lump sum to the EU to meet its financial obligations, but pay over time.
The agreement doesn’t offer a specific figure for how much Britain will end up paying. Britain’s Press Association, quoting senior sources, put the financial settlement at between GBP 35-B to 39- (EUR 40-45-B, $47 – 52-B).
Britain will contribute to the EU budget through Y 2020 as if it had remained fully in the bloc.
Have a terrific weekend