Confused About Brexit? Here’s a Guide as the Endgame Begins

Bloomberg
Bloomberg
Published in
4 min readNov 14, 2018

--

Prime Minister Theresa May leaves Downing Street on March 23, 2017 in London, England. Photo: Jack Taylor/Getty Images

By Emma Ross-Thomas

The U.K. and European Union negotiators have reached a Brexit withdrawal deal. But it’s far from over yet.

Here are the five things to know as we head into the most perilous part.

1. What’s the deal?

It will be the most important international agreement in Britain’s postwar history. It will set out the terms of separation that allow the U.K. to depart the European Union on March 29 in an orderly fashion — and bring with it a 21-month grace period to give everyone time to adjust. It will probably also come with a political declaration that sets out how the two sides want to trade in the future — but the details of a free-trade agreement could take years to work out.

Prime Minister Theresa May has to get her Cabinet to sign off on it at an emergency meeting called for Wednesday at 2 p.m. But she can’t take their backing for granted.

2. So it’s too soon to celebrate then?

Yes and no. For months, negotiations have been at impasse over what’s become known as the Irish backstop. It’s complicated and you can read why it’s been such a sticking point here. The most difficult section of the agreement is the bit dealing with this issue…

--

--