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Brexit Situation After The New British Government Was Enthroned

Author

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  • Petre Prisecaru

Abstract

After the British Parliament rejected three times in the first half of the year the Brexit agreement concluded with EU, Prime Minister Theresa May has resigned and recently she was replaced by Boris Johnson who wants its renegotiation, especially the Irish backstop, and does not want to pay the bill agreed at £ 39 billion. EU refuses any renegotiation of the agreement which it considers to be mutually advantageous. The new European Commission president Ursula von der Leyen said the Brexit agreement concluded between Theresa May and chief negotiator of the European Commission for Brexit, Michel Barnier, will remain the basis for any further discussion and that the EU does not want a hard Brexit without any agreement. British politicians remain quite divided on a Brexit without any agreement, Labor Party announcing that will not support such a solution. House of Commons voted several times in favor of a Brexit agreement, which seems impossible to achieve. Business sector sees the hard Brexit impact in four stages over many years, but its effects are mostly quite negative.

Suggested Citation

  • Petre Prisecaru, 2019. "Brexit Situation After The New British Government Was Enthroned," Euroinfo, Institute for World Economy, Romanian Academy, vol. 3(8), pages 27-34, August.
    • Handle: RePEc:iem:eurinf:v:3:y:2019:i:8:p:27-34
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    File URL: http://www.iem.ro/rem/index.php/euroinfo/article/view/717/798
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    More about this item

    Keywords

    agreement; parliament; government; negotiations; backstop; Brexit impact;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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