Brexit negotiators have one more thing to solve within days -The XX factor

The British government asked for the possibility of that being extended in case the final trade deal isn't ready in time

An anti-Brexit protester
An anti-Brexit protester demonstrates opposite the Houses of Parliament in London, Britain, January (Photo: Reuters)
Ian Wishart | Bloomberg
Last Updated : Nov 17 2018 | 3:37 PM IST
As Prime Minister Theresa May is gripped by political turmoil in the U.K., Brexit negotiators have some unfinished business in Brussels.

Curiously, the 107,000-word draft divorce treaty had one gap left in it when it was published this week. The maximum extension of the U.K.’s post-Brexit transition period appeared in the text as “up to 31 December 20XX.”

Officials on both sides say they have only until the planned summit of EU leaders on Nov. 25 to replace the blanks with a specific year.

The issue is divisive in the U.K. because pro-Brexit lawmakers consider the transition period leaves Britain a “vassal state.” The U.K. will stick to EU rules as if it were still a member but loses any say in decision-making.

Initially, the plan was for the transition to last from the moment the U.K. leaves the EU on March 29, 2019 until Dec. 31, 2020. But the British government asked for the possibility of that being extended in case the final trade deal isn’t ready in time.

The draft deal allows for one extension of the transition period beyond 2020 as long as it’s agreed by both the U.K. and EU and decided on before July that year. There’s no agreement on the maximum length yet.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Next Story