Brexit Becomes Reality !

Britain and the EU finally inked a last minute deal as the Brexit negotiations reached the stage where cross Channel chaos was inevitable.  Trade integration had reached crisis point and hundreds of lorries were stranded in Britain and France because the coronavirus pandemic was running rife amongst its drivers.  It looked like trade might come to a standstill.

Under this new deal, the EU and Britain will continue to trade with no limits or tariffs on goods with appropriate rules of origin.  British prime minister, Boris Johnson crowed that " we have taken back our destiny. W'eve taken back every jot and title of our regulation ".   This is the culmination of that 2016 referendum which narrowly chose separation and independence.

This separation comes with a curious pledge of unity. Britain woulkd remain " emotionally " attached to Europe.  The prime mninister pledged that we will  ' be your friend, your ally, your supporter and never let it be forgotten  - your number one market, because although we have left the EU, this country will remain culturally, emotionally, historically, stategically and geologically attached to Europe ".

What was left unsaid was that this agreement does not cover " services " which make up eighty percent of the British economy.  At present London is the only financial capital to rival New York.  There is now the expectation that European capitals will challenge that predominance.  Access to the EU market for UK banks, insurers and asset managers will become patchy at best.

This deal will also support peace in Northeern Ireland, which is a priority for US President Elect  Joe Biden, who has warned Johnson that he must uphold the 1998 Good Friday agreement.  There is still support in Ireland for an accord that would unify the country.

One remaining sticking point relates to the fish in British home waters.  Not only is the share that European fishing boats access contentious, but the regulations that apply to individual species.,  That is an issue that escaped resolution and will be foremost in British hearts and minds as the final issues of Brexit remain to be settled.

Both sides are expressing satisfaction in the accord reached, but in reality it is still a work in progress. Originally, the EU started as a means of extablishing a " common market " to integrate trade between the countries of Euurope for the common good, but then the ideas turned towards political integration, and that was an entirely different proposition.

The EU has emerged as a trade block which forms a counter to China and Britain will no longer shelter within its defensive wall.  It can not trade on the benefits delivered by its old empire because that has disintegrated and it is now an orphan country situated on the fringe of Europe.  In particulasr, it no longer has a giant navy capable of ruling the world's oceans.

The immediate impasse has been overcome, but now the fine tuning awaits.  There is the expectation of more heated wranglng to come as Britain and Europe extricate themselves from the shared responsibility they put together while in union.

It will be intreresting to see if this new found affinity survives the test of time !