Fx trading News: Say goodbye to the EU: Johnson hopes for national unity and reiterates that it will not extend the transition period!


2020-02-03 13:54      from:CAPSTONE    author:Jack

Capstone Forex Trading News: More than three years after Brexit entangled the United Kingdom and the European Union, Britain finally left the European Union officially at 11 pm local time on January 31st. Prime Minister Johnson issued a national television speech before the formal Brexit, describing the days of leaving the European Union as the dawn of a new era and the moment of uniting the country. In the transition period of the next 11 months, Britain will face the arduous task of negotiating a trade agreement with the EU. Johnson reiterated his position to the EU in his speech and stressed that the transition period will not be extended.
On the evening of January 31st local time, Johnson delivered a pre-recorded national television speech. He did not celebrate the official Brexit, saying only that Brexit "is not the end, but a new beginning". It is a moment of real change and renewal of the country. He described Brexit as a "dawn of a new era". The life opportunities of citizens no longer depend on the background of growth. At the same time, his responsibility is to lead the country to unity and move forward.

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Regarding the trade negotiations with the European Union in the next 11 months, Johnson reiterated his stance on not extending the transition period and was determined to "separate" Britain from the European Union in the future. Johnson warned that once the UK and Europe cannot reach a trade agreement during the transition period, EU exports to the UK will also need to pay tariffs, such as German cars, French cheeses, Italian wines, etc.
On the same day, the British government arranged only a few official celebrations of Brexit Day, including a flag raising ceremony. Downing Street has light projections, and an electronic clock countdown to Brexit. Breach party leader Farage held a celebration rally in London's Parliament Square.
During the transition period, the UK will still follow EU regulations with little change in substance. The only change to be confirmed on Brexit Day is the abolition of the Brexit Department. The department's cabinet office will be vacated, its staff will be transferred to other departments, and the Minister of Brexit Affairs will also become a back seat member.

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