Font Size
Share this article


Print Friendly Version
28 October 2019
ECONOMY

EU agrees to there-month Brexit extension as UK Election looms

The European Union’s apparent intention to extend the Brexit deadline to 31 January 2020 could yet have an impact on voters in the House of Commons.

BLOOMBERG/SIMON DAWSON


The European Union has agreed to grant the UK a three-month Brexit delay to 31 January 2020, removing the risk of a damaging no-deal split on 31 October 2019 as the British government tries to end the impasse in Parliament, reported Bloomberg.

Prime Minister Boris Johnson is pushing a vote in the House of Commons to trigger an early general election, saying it’s the only way to resolve the deadlock that has stopped the UK ratifying the divorce deal with Brussels and prolonged the uncertainty for businesses as Brexit drags on.

Envoys representing the 27 remaining European Union members states agreed to the UK request for a Brexit extension to 31 January 2020, said Donald Tusk, the EU Council President.

Envoys from the remaining 27 EU members agreed that Brexit will take place on the first day of the month following the ratification of the withdrawal agreement, on 1 February 2020, whichever is the earliest.

Additionally, the EU bloc agreed that the withdrawal agreement is not up for renegotiation during the extension period.

As part of the extension, the U.K is expected to nominate a candidate for EU Commissioner after the granting of the extension.


RELATED STORIES: EUROPEAN UNION BREXIT PRIME MINISTER BORIS JOHNSON


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION


CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.