British Prime Minister Boris Johnson is holding a press conference in London on the 24th to announce the conclusion of the Brexit Future Relations Agreement. London = AP Yonhap News
When the UK and the European Union (EU) signed an agreement on future relations, including a trade agreement, Brexit (UK’s withdrawal from the EU), European leaders welcomed all at once. The stock market also ended higher with relief that long-standing uncertainties had been removed.
German Chancellor Angela Merkel issued a statement on the 24th (local time) to conclude a future negotiation between the UK and the EU, saying, “We are very confident that we have achieved good results.” “We will quickly decide whether or not Germany can support the results ” “Through the historic agreement, the UK will remain an important partner between Germany and the EU.”
French President Emmanuel Macron also posted a post on Twitter and welcomed “(EU) unity and solidity have come to fruition.” President Macron said, “The agreement with the UK is essential to protect our citizens, fishermen and producers,” said President Macron. “Europe is looking forward to a united, independent and strong future.” Italian Prime Minister Giuseppe Conte was also optimistic that the agreement “will guarantee the interests and rights of European businesses and citizens.”
Major European stocks also rose. The UK London Stock Exchange’s FTSE 100 index closed at 6,502.11, up 0.1% from the previous trading day, and the pan-European index Euro Stoxx 50 also increased 0.1% to 3,543.28. However, the results of the negotiations were not properly reflected as most of the European stock markets closed early on this day before Christmas.
On this day, the two sides ended the process of’divorce mediation’, which took four and a half years after the British referendum in June 2016. The two sides”Post Brexit’ negotiations, which continued for a year from the beginning of this year, were settled dramatically one week before the end of the transition period. In a statement, British Prime Minister Boris Johnson announced the conclusion of the agreement, saying, “What we promised the people at the 2016 (Brexit) referendum and last year’s general elections have been fulfilled.” “We have achieved a fair and balanced agreement,” said Urzula Ponderaien, chairman of the European Commission’s Executive Committee. We will continue to cooperate with the UK in all areas.”
In the future, EU and UK parliamentary votes will be held on the agreement between the two sides. Although the UK is in recess, it decided to convene a parliamentary vote on the 30th. EU ambassadors will meet in Brussels on the 25th to review the negotiations. Ratification requires unanimous approval from the 27 EU member states.
Isaac Kim reporter [email protected]
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