Brexit: deals and no deals

Flip Chart Fairy Tales

What is a ‘No Deal’ Brexit? Part of the (sometimes deliberate) confusion around this is that there are, essentially, three deals to be done between the UK and the EU. The decision tree looks something like this:

Chart made with SmartDraw

Deal 1: Article 50 Agreement

This is an agreement on the terms of separation. It includes things like:

  • Liability for pensions for EU staff;
  • Share of the European Investment Bank;
  • Funding commitments made by the UK for projects beyond March 2019;
  • Relocation of EU agencies in the UK;
  • Rights of UK and EU citizens after March 2019.

As Anand Menon says, a failure to agree on these basic terms could happen in two ways; the UK walking away from the negotiations or a timeout where no agreement is reached by  the March 2019 deadline. This is what Professor Menon called the Chaotic Brexit:

There is no Article 50 agreement…

View original post 1,381 more words

Advertisements
This entry was posted in applied price theory on by .

About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at https://utopiayouarestandinginit.wordpress.com/2014/03/12/why-call-my-blog-utopia-you-are-standing-in-it/

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.