Markets By TradingView
5187
0

Boris Johnson Presented The Controversial Internal Market Law To Parliament

Despite fierce criticism from the EU, Prime Minister Boris Johnson presented the controversial internal market law to parliament today.

Boris Johnson Presented The Controversial Internal Market Law To Parliament
Yazar: Tom Roberts

Yayınlanma: 10 Eylül 2020 21:25

Güncellenme: 22 Kasım 2024 14:45

Boris Johnson Presented The Controversial Internal Market Law To Parliament

Despite fierce criticism from the EU, Prime Minister Boris Johnson presented the controversial internal market law to parliament today. The law aims to support the UK economy and secure jobs. At the same time, however, it nullifies the exit agreement between Great Britain and the EU that has already been negotiated. The point of contention is once again the border between Ireland, which is a member of the EU, and the British province of Northern Ireland. The planned Single Market Act provides that Northern Ireland should retain "unrestricted access" to the British market even after the Brexit transition period has expired. This would mean a hard customs border between Northern Ireland and Ireland. The Brexit deal between the EU and Great Britain stipulates that such a limit should be avoided in any case. Instead, the customs border should lie in the Irish Sea - between Northern Ireland and England, Wales and Scotland. Otherwise - so the fear - the Northern Ireland conflict could flare up again.

Strong criticism from the EU

The British move is alarming the EU. Commission President Ursula von der Leyen tweeted that "that would violate international law and undermine trust". Compliance with existing contracts is the basis of future relations with the United Kingdom. Her vice-president Marcos Sefcovic announced an emergency meeting of the committee that monitors the implementation of the exit. The British government was unimpressed by the criticism from the EU. Northern Ireland Minister Brandon Lewis admitted that they are aware that parts of the proposed law violate international law. The bill has yet to be approved by both UK Houses of Parliament before it comes into force at the end of autumn.

Negotiations on trade agreements stall

The dispute also weighs on the ongoing negotiations on a trade agreement that will come into force when the Brexit transition phase expires in 2021. Most recently, the talks with the EU had a problem with fishing rights, as was the case with the question of the extent to which Great Britain is allowed to subsidize domestic companies. Johnson recently announced that Britain would hold constructive negotiations with the EU. If, however, no agreement is reached, after the end of the transitional period he is ready to establish relations with the EU along the lines of Australia. There is no comprehensive trade agreement between Australia and the EU. Their trade is largely carried out according to the rules of the World Trade Organization (WTO).
En Popüler Haberler

Yorum Yap

Yazılan yorumlar hiçbir şekilde Son Ekonomi Haberleri - Türkiye Dünya - ieconomy.io görüş ve düşüncelerini yansıtmamaktadır. Yorumlar, yazan kişiyi bağlayıcı niteliktedir.

Yorumlar

Henüz yorum yapan yok! İlk yorumu siz yapın...

Borsa, Kripto, Hisse, Emtia ve Döviz Haberleri

ieconomy: Türkiye'nin en kapsamlı ekonomi haber sitesi. Son dakika haberleri ve en güncel haberler ieconomy'da.