“Brexit” became a part of our vocabulary since the early 2017 and has been used in countless memes, caricatures, gifs and so on. Many of us often use the term without even understanding the real story behind it.

Are you one of those still confused with the whole Brexit saga? This article will you a lowdown on how and why Brexit took place, and what you can expect in 2020 and beyond.

What do you mean by Brexit?

Brexit is the official name given to the British (United Kingdom) exiting the EU (European Union). Simply put across, British + Exit = Brexit. Brexit is surely historic both for the UK and our world alike.

Source: NepaliTimes

 

It is well known that there are a good number of possible negative consequences with the UK exiting the European Union. However, at the same time, many might question why 51.9% of the British population voted in favor of this separation.

Why the UK preferred Brexit?

There are a few possible reasons as to why it makes sense for the British which we may not have thought about:

  • To begin with, leaving the European Union would mean that the United Kingdom will solely decide its own decisions. This meant they wouldn’t have to depend on the EU interfering with how it governed the nation.

 

  • Another reason as to why the UK decided to exit the EU is Immigration. Ever since the UK joined hands with the EU, immigration has shot up. Laws with respect to Immigration are quite liberal throughout the entire European Union, thereby making it quite easy for anyone to live wherever they like throughout the EU countries. Those who were in favor of Brexit wanted more control over the borders of the UK.

 

  • Nationalism as well as identity also played a great role in pushing the UK to exit the EU. A good number of British citizens did not get the feeling of the UK being integrated with the EU. This mentality is quite evident in the recent Eurobarometer survey. As per the report, around 64% of the British citizens dismiss any feelings of having an identity with Europe.

What actually happened on the day of Brexit?

After revoking Article 50 on January 31, 2020, at around 11 P.M, the UK is no longer a member of the European Union.

What are the key Brexit dates in 2020?

  • January 31, 2020

Brexit took place at the stroke of 11 P.M.

  • March 1, 2020

The European Union desires to have its negotiating mandate to be agreed by March 1st.

  • June 2020

As a part of the Brexit deal, an EU-UK political declaration states that a summit must take place in June so that Britain and the European Union can assess their progress of the talks.

If Britain wishes to extend its transition period, it has to do so by June 2020.

  • November 26, 2020

As per the officials of the European Union, a trade deal has to be negotiated, verified, interpreted and also presented to the European Parliament by November 2020.

  • December 31, 2020

If a trade deal has not been put up, then Britain will be falling back on the basic WTO terms.

Under the guidelines laid down by the WTO, post Brexit, the agricultural tariff will see a rise and cars will be taxed at 10% if they cross the UK-EU border.

  • December 31, 2020

If the UK Government wishes to change its course, it has to do so by December 31st, 2020. The transition period can be pushed further only to this date.

 

What can you expect after Brexit?

Source: YouTube

 

Individuals will go ahead with their normal life, but with one key change – They are no longer citizens of the European Union. British passport holders can continue to travel as well as work in the European Union as the country remains in the single market up to the transition period. The freedom with respect to the movement of goods, capital, people and services over the borders is applicable until the transition period.

A major change can be observed at the institutional and legal level. The process in Article 50 non-reversible and over.

The United Kingdom will follow the rules set up by the EU. However, they will have no say in making the rules. The British ministers will not be taking part in the law-making process of the EU. For setting up the bloc’s proprieties, the UK Prime Minister will not be attending any EU summits.

The 73 MEPs of the UK will be sent home. Also, one of the Union Jacks of the parliament will be dispatched to the House of History which is funded by the UK. The European Union on the other hand will continue to move on without Great Britain.

For nearly 47 years, the British government has cheered the liberal economic policies, pushed farming and fisheries’ reforms, promoted the enlargement of the EU, mixed environmental protection laws and invented few regional policy subsidies for the economically weaker regions. The Government did all of this while avoiding the Schengen and Euro passport-free zone.

 

How the UK marked the occasion?

 

One of the EU officials removes the UK flagpole at Brussels outside EU headquarters

Source: Vox

 

The departure of the UK from the European Union is without any doubt, a historic event. However, the prime minister was careful about not intensifying any divisions present in the country. He settled down on a series of toned-down events in order to mark the occasion.

The Union Jack was hoisted from all the flagpoles present in the Parliament Square but without the emblematic lowering of the European Union flag.

A Brexit 50p coin carrying the words “peace, prosperity and friendship with all nations” was pushed into circulation. New stamps are also in the pipeline to mark the historic occasion.

What are the big issues at stake here?

At the top of the list is the trade deal which will ensure the tariff, as well as the free flow of goods between the United Kingdom and the European Union, would be affected. However, the EU has agreed for zero tariffs as well as zero quotas only if the UK pledges on zero dumping.

Another issue is that the European Union wishes to link goods trade in order to maintain their status quo on access to the British waters. This demand has been viewed quite outrageously in London. In time, we hope things will be sorted out and there won’t be any more strain in the relationship between the UK and EU.

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