Another week has gone by, and it has – as always – been another dramatic week for Brexit, and for UK Prime Minister Theresa May. In brief, May has managed to get backing from Parliament to return to the EU to make arrangements on an alternative to what has been referred to as the Irish ‘backstop’ – an issue which, once the UK has left the European Union, would mean that there are still factors linking the two. This issue has enraged those who are keen for the UK to leave outright – and while May has attended Brussels in the hopes of finding an alternative to the backstop, the EU has reportedly remained steadfast with regard to any further negotiation.
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The latest twist in the tale, according to The Independent, is the fact that the UK may still be expected to continue making payments to the EU even in the event of a ‘no-deal’ scenario, as detailed by European Commission officials in Brussels on Wednesday. It’s being suggested that the UK will need to consent to a plan for the country to continue to keep up payments to the EU beyond its 2019 budget. This, according to officials, will help to soften the blow of a ‘no-deal’ exit.
“As highlighted on many occasions, all commitments taken by the 28 Member States should be honored by the 28 Member States,” an official European Commission statement advises. “This is also true in a ‘no-deal’ scenario, where the UK would be expected to continue all commitments made during EU membership.”
“Today’s proposal enables the EU to be in a position, in a ‘no-deal’ scenario, to honor its commitments and to continue making payments in 2019 to UK beneficiaries for contracts signed and decisions made before 30 March 2019, on condition that the UK honors its obligations under the 2019 budget and that it accepts the necessary audit checks and controls.”
This news may not sit well with certain UK citizens, as the tangled web of Brexit appears to continue to twist itself up. With PM May reportedly considering discussing reaching a new approach to the backstop with opposition leader Jeremy Corbyn, time is very much running out for any deal to be found – and with the British Pound dropping in exchange, it seems that the financial sector isn’t too sure a clean deal will ever be found.
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