The European Union Withdrawal Agreement Final Text: What You Need to Know
On January 31, 2020, the United Kingdom officially left the European Union after 47 years of membership. Since then, the two parties have been negotiating a Withdrawal Agreement to determine the terms of their future relationship. After several rounds of talks, the European Union (EU) and the United Kingdom (UK) finally agreed on a final text of the Withdrawal Agreement on December 24, 2020.
The Withdrawal Agreement lays out the terms of the UK`s departure from the EU and provides a framework for the future relationship between the two parties. It covers a wide range of issues, including citizens` rights, financial settlement, and the Northern Ireland Protocol. Let`s take a closer look at some of the key provisions of the agreement.
Citizens` Rights
One of the most important provisions of the Withdrawal Agreement is the protection of the rights of EU citizens living in the UK and UK citizens living in the EU. The agreement ensures that these citizens will be able to continue living, working, and studying in their host country, and that they will have access to healthcare, pensions, and social security.
Financial Settlement
Another crucial element of the Withdrawal Agreement is the financial settlement. The UK has agreed to pay a ”divorce bill” to cover its outstanding financial obligations to the EU. The final figure is estimated to be around £40-£45 billion, which will be paid over a number of years. The payment will cover the UK`s share of the EU`s budget until the end of 2020, as well as outstanding contributions to the EU`s various funds and programs.
Northern Ireland Protocol
The Northern Ireland Protocol is a key part of the Withdrawal Agreement that addresses the issue of the UK`s land border with the EU. The protocol creates a special arrangement for Northern Ireland that allows it to remain aligned with certain EU rules and regulations, while also remaining part of the UK. This is designed to prevent the need for a hard border between Northern Ireland and the Republic of Ireland, which could have serious implications for peace and trade in the region.
Future Relationship
While the Withdrawal Agreement deals primarily with the UK`s departure from the EU, it also provides a framework for the future relationship between the two parties. This includes negotiations on a free trade agreement, cooperation on security and defense, and continued participation in EU programs and agencies.
In conclusion, the European Union Withdrawal Agreement Final Text provides a comprehensive framework for the UK`s departure from the EU. While there are many challenges still to come, the agreement provides a solid basis for the future relationship between the UK and the EU. It is important for businesses, individuals, and governments to understand the provisions of the agreement and to prepare accordingly.
