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Withdrawal Agreement 2019

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The Withdrawal Agreement 2019: What You Need to Know

The Withdrawal Agreement 2019 is a legal treaty between the United Kingdom and the European Union that outlines the terms of the UK`s departure from the EU. The agreement encompasses various aspects such as the rights of EU and UK citizens, the financial settlement, and the Northern Ireland Protocol. The Withdrawal Agreement 2019 was finalized on October 17, 2019, and subsequently ratified by both the UK and the EU.

Here are some key points to know about the Withdrawal Agreement 2019:

1. Citizens` Rights

One of the main concerns during the Brexit negotiations was the status of EU and UK citizens residing in each other`s countries. The Withdrawal Agreement 2019 guarantees the rights of EU and UK citizens and their family members who were living in the respective countries before the end of the transition period (December 31, 2020). It ensures that they can continue to live and work in their current country of residence.

2. Financial Settlement

The UK agreed to honor its financial obligations to the EU as part of the Withdrawal Agreement 2019. This includes contributions to the EU budget, pensions for EU staff, and outstanding liabilities. The total cost of the financial settlement is estimated to be between £35 billion and £39 billion.

3. Northern Ireland Protocol

The Northern Ireland Protocol is a key aspect of the Withdrawal Agreement 2019 that addresses the issue of the UK`s land border with Ireland. To prevent the reintroduction of a hard border, the UK agreed to maintain regulatory alignment with the EU on certain goods. This means that Northern Ireland will follow some EU rules and regulations to ensure that goods can flow freely across the Irish border.

4. Transition Period

The Withdrawal Agreement 2019 provides for a transition period from the date of the UK`s departure from the EU until December 31, 2020. During this period, the UK continues to adhere to EU rules and regulations while negotiating a future relationship with the EU. This transition period can be extended once for up to two years, but the deadline for extension is July 1, 2020.

5. Future Relationship

The Withdrawal Agreement 2019 focuses on the terms of the UK`s departure from the EU rather than the future relationship between the two parties. Negotiations on the future relationship began during the transition period and are ongoing. The future relationship will be based on a free trade agreement, but the details are yet to be finalized.

In conclusion, the Withdrawal Agreement 2019 is a comprehensive legal treaty that outlines the terms of the UK`s departure from the EU. It covers various aspects such as citizens` rights, the financial settlement, the Northern Ireland Protocol, and the transition period. While the agreement has been ratified, negotiations on the future relationship are ongoing. With Brexit now complete, it is important to stay informed about the developments that shape the UK`s relationship with the EU and the wider global community.