Friday, February 07, 2020

Belonging to the European Union matters! Union of 27

The United Kingdom is finally out of the European Union partnership, since January 31, 2020, at midnight (Brussels time). This follows the ratification of the Withdrawal Agreement of the previous week by both the European Parliament and Council. Half a century of the United Kingdom’s membership of the European Union is over. The Union of 27 just started!
   The United Kingdom is no longer a Member State of the European Union and of the European Atomic Energy Community as of 1 February 2020.
   “Nowhere else in the world can you find 27 nations of 440 million people, speaking 24 different languages, relying on each other, working together, living together. This is not by accident or by chance. This is grounded in centuries of shared history, decades of shared experience and a determination and confidence to shape our common future together.”, said the President of European Council, von der Leyen.
   As a third country, UK is no longer able to participate in the EU’s decision-making processes. United Kingdom cannot participate in the EU institutions, such as the European Parliament and the Council, EU agencies, offices, or other bodies.
   But, von der Leyen added that “We want to have the best possible partnership with the United Kingdom. But it is clear that there will always be a difference. Belonging to the European Union matters.”.
   Finally, it is important to note that the transition period started on February 1, 2020, and will end on December 31, 2020, unless a decision to extend it is taken by mutual EU-UK agreement before July 1, 2020. Such an extension can only be decided once, for a period of one or two years.
Δρ. Κωνσταντίνος Μάντζαρης, Dr. Konstantinos Mantzaris, Economistmk

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