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The UK may return to the European Union


September, 19 2023
watermark Economic news

According to the Telegraph newspaper, the UK is considering becoming an «associate member» of the European Union as part of new plans for the expansion of the union developed by France and Germany. 


The proposed structure includes four levels, and it is assumed that London can join the third level, as indicated in the report of the Franco-German working group.


Such «associate members» will not be bound by obligations for further integration into the EU and its policies. However, in order to participate in the single European market, they will have to contribute funds to the EU budget and follow the decisions of the European Court of Justice. And since their contribution will be smaller compared to full EU members, they will receive fewer benefits, for example, exclusion from access to the EU solidarity fund and the EU agricultural fund.


The media also mentioned that the trade agreement concluded by former British Prime Minister Boris Johnson put an end to the jurisdiction of the European Court of Justice in the UK and stopped the country's financial contributions to the bloc.


Earlier, the head of the European Commission, Ursula von der Leyen, announced an upcoming review aimed at determining the adaptation of the EU to a possible expansion, and the head of the European Council, Charles Michel, expressed his concern about the slow pace of integration of new members into the EU.


Recall that in June 2016, in a referendum, the majority of Britons voted for Brexit, and the UK officially left the EU in January 2020 after 47 years in the union. On January 1, 2021, the transition period in their relationship ended. In this regard, an agreement on trade and cooperation has begun to operate between the parties, but only in a preliminary format.


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Pertukaran wang asing amat spekulatif dan kompleks, dan mungkin tidak sesuai untuk semua pelabur. Perdagangan forex boleh menghasilkan keuntungan atau kerugian dalam jumlah yang besar. Oleh itu, adalah tidak digalakkan untuk melaburkan wang sekiranya anda tidak bersedia untuk menanggung kerugian. Sebelum menggunakan perkhidmatan yang ditawarkan oleh ForexMart, sila fahami risiko yang berkaitan dengan perdagangan forex. Dapatkan nasihat kewangan bebas sekiranya perlu. Harap maklum bahawa prestasi masa lalu atau ramalan bukan petunjuk yang boleh dipercayai untuk hasil di masa hadapan.