Brexit Deal Pushed by UK’s Boris Johnson

1510
Wibest – Brexit: British Prime Minister Boris Johnson standing in front of a podium.

The United Kingdom’s new Prime Minister, Boris Johnson, will press the European Union in the coming weeks for a better Brexit deal. According to a report, his office said that even though he will push the bloc, he is also preparing in case he fails.

Impending fears of a harsh Brexit scenario further weighed on investors after Johnson won the BPM race. It weakened the pound sterling, preventing it from gaining altitude.

The British pound has dived to its lowest levels in the past two years on yesterday’s trading sessions. Fears for Brexit have stirred the direction of the UK’s currency.

Local traders and investors are also anxious as to what potential damages a no-deal Brexit breakthrough would bring. The market’s optimism for a graceful Brexit has also deteriorated.

With just less than a hundred days left until the UK leaves the EU on Halloween, Johnson’s office is gearing up for possible scenarios.

Boris Johnson has set his cabinet packed full of officials who share the same Brexit view with him. The BPM is assuring that every state will prepare to depart on July 31.

Johnson reportedly said that he has two conditions with the EU for a deal.

The first is that the group should re-open last year’s negotiated withdrawal agreement. The second one is that the EU must agree to stop pushing the backstop at Irish borders.

The backstop plan is meant to ensure that the goods crossing the border of Ireland will not need to undergo inspections.

A public information campaign will launch in the coming weeks. The goal is to teach and prepare local businesses and citizens for Brexit.

‘Key Conditions’

Wibest – Brexit: An aerial shot of the UK Parliament and the Big Ben

Unfortunate for the new administration, there is no sign that the EU is shifting its stance to Johnson’s conditions. Johnson’s demand to reopen the Brexit deal that the EU struck with former BPM Theresa May last year was refused by the bloc.

Leaders from the 28-member bloc said that they are not ready to revise the deal.

Johnson reportedly said that the backstop is risking locking the UK into an indefinite trade relationship with the EU.

A spokesperson for the European Commission said yesterday that a deal may be in everyone’s interest, the group is already well-prepared for a no-deal Brexit.

The European Union has continuously said that the UK needs to change its stance and stay in the EU’s single market. However, the BPM has vowed not to shift or do this.

Other Preparations

The new British Prime Minister is scheduled to travel to a farm in Wales on Tuesday. The agenda of the new head is to hear the sides of farmers and their hopes after the Brexit.

Before leaving for his trip to Wales, Johnson said that he would not allow Britain to scrap the Common Agricultural Policy of the European Union.

Johnson said that once the UK leaves it will be a big opportunity to introduce new concepts to help the agricultural sector. He added that he will make sure that farmers will get a better deal.

The new leader views Brexit as a huge window of opportunity for the UK.

For more news updates, visit our homepage now and see our latest news article. Want to learn more about trading? Visit our education page now and learn for FREE!

Tags:

13 Comments

  1. Charlott Giacomo February 25, 2021
  2. Kent Rummel February 23, 2021
  3. Fatima Nobregas February 23, 2021

Leave a Reply