The Brexit consequences on the European single market

• Author: Gabriel Liviu Ispas
• Position: Dean, Faculty of Law, 'Titu Maiorescu' University of Bucharest, Romania
• Pages: 116-129

The Brexit consequences on the European single market

Associate professor Gabriel Liviu ISPAS1

Abstract

Brexit represents one of the biggest challenges for th e European Union since its

establishment. The recent political an d institutional developments, the decision of the

British Parliament not to accept the exit of the United Kingdom from the European Union

without a signed agreement, the decision to negotiate a new deal that must be ratified by

both the Member States of the EU and the British Parliament, points towards the fact that

neither the Union nor the United Kingdo m are effectively prepared for such a decision. The

paper presents the recent evolution of Brexit, as well as its possible consequences

regarding the internal market. We will present, abo ve all, how the free mo vement of goods

will be affected and how the free movement of persons will be realized, for lucrative

purposes. A political a nalysis of the events will be conducted, as well as an analysis of the

applicable normative acts in question . The implications of Brexit on the economy of the

Member States and on trade within and outside the European Union will be evaluated, both

quantitatively and qualitatively.

Keywords: Brexit, the European Union, Union policies, voluntary withdrawal,

Brexit influences.

JEL Classification: K23, K33

1. Voluntary withdrawal from the Union. Article 50 of the Treaty

on European Union

Article 50 of the Treaty on European Union states that any Member State

may decide to withdraw from the Union, following the constitutionally assumed

decision within that State. Afterwards, the European Council must be notified of

the decision to voluntarily withdraw, with at least 2 years before the expected date

of effective withdrawal, following an extensive process of negotiations between the

parties for the signing, approval and ratification of a Treaty on the withdrawal from

the Union. The treaty is meant to establish the conditions and terms of the exit, the

financial compensations, the regulation of the positioning regarding the internal

market and the way in which the protection of the citizens who will continue to

carry out their lucrative activity or studies after the voluntary withdrawal will be

carried out2. On a hypothetical level, one of the following situations can be

reached: leaving the Union is accomplished with a treaty, the moment of voluntary

exit is delayed until there is an identification of mutually agreed terms, or by way

of a no-deal exit, without any agreement.

1 Gabriel Liviu Ispas – Dean, Faculty of Law, „Titu Maio rescu” University of Bucharest, Romania,

gabrielliviu.ispas@gmail.com.

2 Ispas Gabriel Liviu, Daniela Panc, Drept instituțional al Uniunii Europene, Hamangiu Publishing

House, Bucharest, 2019, pp. 53-65.