Brexit’s Impact on the UK Economy Found to Be Worse Than Expected
The United Kingdom’s departure from the European Union has inflicted deeper damage on the country’s economy than previously estimated
www.pixabay.com
The House of Commons of the British Parliament approved the bill for the country's exit from the European Union. 358 MPs voted in favour of the law involving the EU-agreed deal on the terms of the divorce. 234 voted against.
Previously, Parliament had rejected a bill that paved the way for the United Kingdom's exit from the European Union four times Former Prime Minister Theresa May has suffered a failure three times. The deployment of power in parliament has changed dramatically since the December 12th elections.
As a result, Prime Minister Johnson's conservatives received a comfortable majority in the House of Commons. That is why the Prime Minister decided to submit the bill on the second day after the new parliament was formed.
Confidence in the positive outcome of the vote allowed Boris Johnson to toughen the bill, including a ban on extending the transition period after Brexit, which expires on December 31, 2020. At this point, Britain and the European Union will continue to exist as if Brexit won't happen. During these months, the parties intend to negotiate their future trade relations.
According to the text of the Brexit Agreement reached in October, the transitional period could be extended once, but for no more than two years. Many British experts believe that a few months will not be enough for London and Brussels to conclude a free trade agreement.
The government expects the bill to be agreed by both Houses of Parliament and signed by Queen Elizabeth I in the coming weeks, which will allow Britain to leave the EU within the deadline.
The Eurogroup meeting concluded with an official decision that clears Bulgaria to join the European Stability Mechanism
The Court of Justice of the European Union has rejected claims that it has issued a ruling blocking Bulgaria’s planned entry into the eurozone
Public support for the euro in the eurozone remains robust
EU legislators have reached a landmark agreement to end reliance on Russian gas by 2027, marking a decisive shift in Europe’s energy policy.
Ireland, Spain, Slovenia and the Netherlands have confirmed they will not take part in Eurovision 2026 after the European Broadcasting Union decided Israel can remain in the competition
The deadline for submitting entries to the European Press Prize is approaching, with the window remaining open until 23:59 CET on December 14
Bulgaria's Strategic Role in the EU's Drone Wall Defense Initiative
When Politics Means Violence