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April 28, 2021

The Brexit Drama Is Finally Over

 The European Parliament has finally reached a consensus to support a post-Brexit trade agreement between Britain and the European Union (EU), thus marking the end of four years of Brexit drama.


The agreement means the agreement can now be formally ratified by the European Union (EU).


The matter was confirmed by an EU parliamentarian, Guy Verhofstadt who said the European Parliament had agreed to a Trade and Cooperation Agreement (TCA).


The TCA is the result of nine -month -long negotiations to get zero tariffs and quotas on goods traded between the EU and the UK.



The vote took place on Tuesday, but due to constraints by Covid-19 work restrictions, resulted in the results not being known immediately.


Earlier, the EU had asked for the talks period to be extended for two months until April 30 to ratify the Brexit deal in early February.


Trade between the two sides has declined significantly since the UK officially exited Britain on 1 January, with EU imports from the UK falling by almost 50% and exports to the UK down 20% in the first two months.


However, this agreement caused the business to struggle with additional documents, and it did not necessarily end the animosity between the two sides.


The UK and EU are still at odds over how the deal will work in Northern Ireland, while EU threats to restrict vaccine imports to Britain have damaged relations.