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  HOME | Business & Economy (Click here for more)

EU Sets Stance for Brexit Transition: UK Stays in Single Market, under Acquis

BRUSSELS Ė The European Unionís General Affairs Council approved on Monday the directives that fix its positions while negotiating the transition period following the United Kingdomís departure from the bloc, including making the UK follow all EU legislation and remain within the single market.

In a statement, the GAC said that the EUís position in the negotiations would be that the UK continue to be under EU acquis, or collective legislation and court decisions, and still be within the single market throughout the transition period.

Throughout this period, however, the UK will not be able to take part in any decision-making within the EU, or be a part of any of the EUís institutions.

ďEU ministers have given a clear mandate to the Commission on what is the type of transition period that we envisage: full EU acquis to be applied in the UK and no participation in the EU institutions and decision-making,Ē said Ekaterina Zaharieva, the deputy prime minister of Bulgaria, which currently holds the six-month rotating presidency of the European Council.

According to the GAC, the transition period is set to end on Dec. 31, 2020, over a year-and-a-half after the UK is scheduled to officially no longer be part of the EU.

Zaharieva said these positions in the upcoming negotiations had been agreed to quickly by the GAC and hoped an agreement could be reached with the UK soon.

 

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