The European Parliament Withdrawal Agreement Ratification: What You Need to Know
The European Parliament (EP) Withdrawal Agreement Ratification is a critical event in the history of the European Union (EU) and the United Kingdom (UK). This agreement marks the final step in the Brexit process, whereby the UK officially leaves the EU after the 2016 referendum.
The Withdrawal Agreement outlines the terms of the UK`s departure from the EU, covering issues such as citizens` rights, financial settlement, and the border between Northern Ireland and the Republic of Ireland. It was negotiated between the UK and EU negotiators in November 2018 and amended in October 2019.
After significant political turmoil and back-and-forth negotiations, the Withdrawal Agreement was finally ratified by the UK Parliament on January 9th, 2020. The following day, the European Parliament followed suit and ratified the agreement by an overwhelming majority of 621 votes for and 49 against, with 13 abstentions.
What does this mean for the UK and the EU?
For the UK, this marks the beginning of a new chapter in its history. The Withdrawal Agreement provides a transition period until December 31st, 2020, during which the UK will continue to follow EU rules and regulations. The UK must now negotiate a new trade deal with the EU during this period, which will determine the future relationship between the two entities.
For the EU, the Withdrawal Agreement means that a major member state is leaving the union. The EU must now undertake a series of reforms to ensure its continued economic and political stability.
What are the implications for businesses and citizens?
The Withdrawal Agreement assures that citizens` rights – both UK citizens residing in the EU and EU citizens residing in the UK – will be protected. This includes the right to work, study, and access healthcare.
Businesses face significant changes as the UK and EU renegotiate their trade relationship. Companies that currently rely on the UK`s access to the EU market may need to establish new relationships to maintain their position in the European market.
Additionally, the border between Northern Ireland and the Republic of Ireland remains a contentious issue. The Withdrawal Agreement includes the Northern Ireland Protocol, which aims to avoid a hard border between the two countries. However, this remains a sensitive topic, and negotiations will likely continue well past the transition period.
In conclusion, the European Parliament Withdrawal Agreement Ratification marks the end of a long and complex process. It now falls to the UK and the EU to negotiate a new trade agreement that will ensure their economic and political stability in the years to come. Citizens and businesses must prepare themselves for significant changes, both in the short and long-term.