Brexit Phase 1 Agreement: What You Need to Know
After months of negotiations, the United Kingdom (UK) and the European Union (EU) have finally struck a deal on Brexit phase 1. This agreement is intended to lay the foundation for a future partnership between the two sides. However, it is just the first step in what is sure to be a long and challenging journey.
So, what does the Brexit phase 1 agreement entail, and what are the implications of this deal? Let`s explore.
The Key Points of the Brexit Phase 1 Agreement
The Brexit phase 1 agreement covers three main areas:
1. Citizens` Rights
One of the most significant elements of the Brexit phase 1 agreement is the protection of EU citizens` rights living in the UK and vice versa. Individuals who have been living in their respective countries for five years or more will be able to apply for “settled status” – a form of permanent residence. Furthermore, specific family members will be able to join them, regardless of their nationality. The agreement also provides for the continued recognition of professional qualifications earned in either the UK or the EU.
2. Financial Settlement
The UK has agreed to pay a “divorce bill” to the EU, which covers its outstanding financial commitments. The UK`s financial settlement is estimated to be between £35bn and £39bn. This payment will be made over several years and will be used to cover projects and commitments made by the EU while the UK was a member.
3. Northern Ireland Border
The issue of the Irish border has been a sticking point throughout the Brexit negotiations. To avoid a “hard border” between Northern Ireland and the Republic of Ireland, the UK has agreed to maintain alignment with the EU`s rules and regulations. This means that there will be no physical barriers between the two countries.
Implications of the Brexit Phase 1 Agreement
The Brexit phase 1 agreement has several far-reaching implications:
1. Trade negotiations can begin.
The agreement provides a basis for the UK and the EU to start discussing future trade arrangements. However, this will be a complex process, and negotiations are likely to take several years.
2. More certainty for citizens.
The agreement provides some much-needed clarity for EU citizens living in the UK and UK citizens living in the EU. The “settled status” program will provide assurance that they will be able to remain in their homes and continue their lives as before.
3. The Irish border issue is not resolved.
While the UK has agreed to maintain alignment with the EU`s rules and regulations, it remains to be seen how this will be achieved in practice. The issue of the Irish border is a delicate one, and it will require ongoing negotiations to find a workable solution.
Conclusion
The Brexit phase 1 agreement is a significant step forward in the Brexit process. It provides some much-needed clarity for citizens and lays the groundwork for future trade negotiations. However, it is just the beginning of a long and challenging road, and there are still many issues that need to be resolved. The next phase of negotiations promises to be just as complex as the first, and it will be interesting to see how the UK and the EU navigate this new landscape.