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European Council: Breinlich (London School of Economics) about Brexit, “no surprise”. A mutually satisfactory agreement

(London) “There is no surprise in the 3-page document with which the European Council moves on to the second stage in Brexit negotiations. At section four, the European Union proposes that the United Kingdom keeps abiding by the single market and customs union regulations and by the jurisdiction of the European Court of Justice, without being involved in any decision” during the transition, which will end in late March 2021 (2 years after the UK’s leaving the EU). Holger Breinlich, one of the most important experts in international economy in the United Kingdom, professor at the “London School of Economics” and at Nottingham University, comments on the start of stage two in Brexit negotiations between the European Union and the United Kingdom. “I think even the politicians that were most critical of the EU, such as Michael Gove or Boris Johnson, will accept this proposal that is certainly not favourable to the United Kingdom, as it is for a limited time”, Breinlich explains. According to the expert, there is still the obstacle of the North Irish border and the United Kingdom seems to be choosing the Canadian option in its relationships with the EU, that is, no duties on goods and mutually recognised qualifications, but a much lower level of integration than the current one. “If the final agreement is anything like CETA, the British banks will have a hard time negotiating with the EU banks”.

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