Thursday, January 30, 2020

EU Parliament Backs Brexit Deal, Clearing Way for U.K. Departure

EU Parliament Backs Brexit Deal, Clearing Way for U.K. Departure(Bloomberg) -- The European Parliament approved Prime Minister Boris Johnson’s Brexit deal, clearing the way for the U.K. to leave the EU on Jan. 31 with an agreement that, for the time being, will avoid a chaotic rupture.Officials on both sides say the fight over the divorce deal was the easy part. Over the next 11 months, the U.K. and the European Union will argue over the terms of their future relationship, which could be even tougher than the negotiations that began after Britain voted to leave in June 2016.The parliament’s backing in Brussels on Wednesday, a legal requirement for Britain to leave the EU with a deal, means the country will leave the bloc it joined in 1973 with an agreement over the terms of its divorce and a transition phase to soften the blow until the end of the year.While the parliament’s support was ultimately a formality -- it voted in favor by 621 votes to 49 -- it did have the power to veto the deal. Since the U.K.-EU negotiations began in June 2017, lawmakers occasionally threatened to use that power, particularly over the issue of the post-Brexit protection of rights of citizens.The endorsement follows approval by the British Parliament earlier this month after a revised deal was struck between the U.K. and EU in October.To contact the reporter on this story: Ian Wishart in Brussels at iwishart@bloomberg.netTo contact the editors responsible for this story: Ben Sills at bsills@bloomberg.net, Richard Bravo, Edward EvansFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.




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