Britain ends chaotic Brexit journey, exits EU’s orbit after 48 years



by   |  VIEW 834

Britain ends chaotic Brexit journey, exits EU’s orbit after 48 years

On Thursday, the United Kingdom’s journey to a protracted and an embittered divorce from EU had been completed on GMT. 23.00, remarking a landmark split that leaves the bloc smaller and the UK more secluded in a fiscally tumultuous world.

In tandem, Britain had departed the bloc’s vast common market for services, goods and people at midnight in Brussels, accomplishing what had been contemplated as the biggest economic shift in the world’s fiscal landscape since the country had joined EU back in 1973.

In point of fact, after nearly five years the Britons had voted 52% to 48% to leave the bloc, EU policymakers alongside UK leaders had agreed to a narrow Brexit deal on the Christmas eve, meaning that a different EU-UK trade deal would bring in a raft of red tapes for a swathe of UK businesses already struggling to grapple with the fiscal fallouts of a pandemic outbreak at large, while for the Brexit supporters, the deal would offer little but a reclaiming of so-called national independence from the EU alongside its web of rules put in place for common good.

UK PM Johnson hails UK’s divorce from EU in New Year’s message

Aside from that, speaking in a New Year’s video message, UK PM Boris Johnson said on Thursday, “An amazing moment for this country!

We have our freedom in our hands, and it is up to us to make the most of it. On the flipside of the coin, although the deal came forth after nearly 11 months of wrangling in a so-called transitional period, common people in UK and EU had still been wondering whether they could remain friends in a longer-term outlook now that the UK had finally pulled the strings to break out of a web of rules of the EU.

On top of that, despite a EU-UK free trade agreement signed off on the Christmas Eve should protect an approximated $894 billion in bilateral annual trades between the parties, British companies had still been scuffling to stomach a cascade of new costs and paperwork having imposed under a 1,246-page trade deal while bracing for customs declarations alongside border checks.