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
SUMMARY

Brexit represents one of the biggest challenges for the European Union since its establishment. The recent political and 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... (see full summary)

 
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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.

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