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Edition 28 March 2018 - Crédit Agricole S.A.
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  • Edition 28 March 2018

    United Kingdom – Brexit: considerable progress, but the hardest part is yet to come

    Considerable progress was made in the Brexit negotiations over the last few weeks. The main advances have been the translation into legal terms of the political commitments made when the preliminary divorce agreement was reached on 8 December 2017. These concern the divorce bill and the rights of UK and EU nationals. The negotiators have also agreed on a transition period until the end of 2020. 

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  • Contents:

    - What have the United Kingdom and the European Union agreed on?
    - Significant outstanding divergences
    - Is further softening of the red lines possible?
    - The risk of 'no deal' has diminished but not disappeared

  • Extract – Why is the Irish border question so central and why is agreement so hard to reach?

    Resolving this question means reconciling conflicting political objectives and interests. It also has significant implications for the future relationship between the EU and the United Kingdom, the relationship between Northern Ireland and the Republic of Ireland and the integrity of the UK single market itself. In accordance with the Belfast Agreement, the UK Government has committed not to put in place a physical border between the Republic of Ireland and Northern Ireland and not to erect any regulatory barriers on the island, so as to continue to promote cooperation between the north and the south. At the same time, it wants to pull out of the customs union and the single market and control the movement of people, which implies putting in place a border between the United Kingdom and the EU. To reconcile these two conflicting goals, in a speech on 2 March 2018 at the Mansion House Theresa May proposed solutions which, while novel, are unrealistic.

  • Associative topics : Economics | Europe


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