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Brexit News
Brexit News
30
Oct
By Huw Beverley-Smith, James Ellis-Rees, Christopher Jefferies | The Faegre Baker DanielsThe United Kingdom's (U.K.) exit from the European Union (EU) has been delayed until 31 January 2020, prolonging uncertainty for individuals and businesses on both sides of the Atlantic. The U.K. Parliament has decided to use this time to hold a general election in December.The 'Flextension'
As discussed in our update last week, the U.K. Prime Minister was required by Parliament to seek an extension to the Brexit process.Yesterday, the EU...
29
Oct
The European Council has adopted a decision to extend the period under Article 50.3 (of the Treaty on the European Union), in the context of the UK's intention to withdraw from the EU.
The extension will last until 31 January 2020 to allow more time for the ratification of the withdrawal agreement. The withdrawal can take place earlier on 1 December 2019 or 1 January 2020, if the withdrawal agreement is ratified by both parties.
For the duration of the extension the United Kingdom remains...
25
Oct
Key Events This Week
Brexit – so close yet so far
Saturday’s special meeting of the UK Parliament resulted in Prime Minister Johnson having to reluctantly write to EU Council President Donald Tusk to seek an extension until January 31st 2020. President Tusk has recommended that EU27 leaders grant the extension request. This is likely to be done by ordinary written procedure, without any additional European Council summit. After a meeting of EU diplomats in Brussels on Wednesday afternoon, officials have...
24
Oct
Make no mistake about it, the latest version of Brexit is a very hard Brexit.
The UK Government has abandoned the legally binding commitment in the previous deal to align with EU regulatory standards to the greatest extent possible. That is now dropped in favour of a political aspiration.
The more the UK diverges from EU standards the greater is the likelihood that the EU will have to place tariff and other barriers in the way of UK imports to the...
23
Oct
By Huw Beverley-Smith, James Ellis-Rees, Christopher Jefferies | Faegre Baker Daniels
On 17 October the European Union (EU) and the Prime Minister of the United Kingdom (U.K.) announced that they had reached a new deal to ensure the orderly withdrawal of the U.K. from the EU. While similar to past proposals, the new deal includes several changes to customs and trade issues. The Withdrawal Agreement must now be approved by the Parliament of the U.K. as well as the European...
22
Oct
Dr. Sam Natapoff, President at Empire Global Ventures, and Bloomberg News EMEA Reporter Maria Tadeo discuss Prime Minister Boris Johnson’s Brexit deal with the European Union that was barely agreed before it ran into trouble at home, as his Irish allies in parliament said they could not support it. Dan North, Chief Economist North America at Euler Hermes, talks about the U.S. economic outlook and whether we’re headed for a recession. Bloomberg News Reporter Brandon Kochkodin tells the story...
18
Oct
Key Events This Week
A deal at long last
After intense negotiations, a Brexit deal was finally reached between the EU and UK government on Thursday, 17 October. Chief EU negotiator Michel Barnier said that the deal agreed between Brussels and London after days of accelerated talks was a ‘fair and reasonable result’. While it is true that both the EU and the UK have moved, Johnson’s government have on the whole had to come up with more concessions.
It appears that...
18
Oct
By Thomas Donegan, Barnabas Reynolds, James Webber | Shearman & Sterling LLP
The EU and U.K. in principle agreed new terms for the withdrawal agreement giving effect to the U.K.’s exit from the European Union. These include a revised political declaration and protocol concerning Northern Ireland replacing the controversial backstop. An amended unilateral declaration on consent in Northern Ireland by the U.K. was also published. Attached to this client note are comparison documents showing the changes from the previous set...
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