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Following the referendum, the UK was engaged from 2017 to 2019 in negotiations with the European Union to leave the EU. Between the UK and EU, the so-called "Brexit" – a portmanteau of "Britain" and "exit" – would consist of a withdrawal agreement and a trade agreement; however, at a global level this might also split various other trade ...
Membership of the EEA is a consequence of membership of the European Union (EU). The UK ceased to be a Contracting Party to the EEA Agreement after its withdrawal from the EU on 31 January 2020, as it was a member of the EEA by virtue of its EU membership, but retained EEA rights during the Brexit transition period, based on Article 126 of the ...
In March 2016, Carney told MPs that an EU exit was the "biggest domestic risk" to the UK economy, but that remaining a member also carried risks, related to the European Monetary Union, of which the UK is not a member. [212] In May 2016, Carney said that a "technical recession" was one of the possible risks of the UK leaving the EU. [213]
In a referendum in June 2016, the United Kingdom voted to withdraw from the EU. The UK government triggered Article 50 on 29 March 2017. [23] After an extended period of negotiation and internal political debate the UK eventually withdrew from the EU on 31 January 2020. [24] [25] Prior to 2016, no member state had voted to withdraw.
Also in September 2023, France and Germany proposed a restructuring of the membership of the EU to allow the UK to rejoin as an associate member, rather than a full member. [5] Associate membership would include membership of the European single market but not the EU customs union , in exchange for participation in the European Court of Justice ...
The question is whether one state is a successor rump state which remains a member of the EU and the other is a new state which must reapply and be accepted by all other member states to remain in the EU, or alternatively whether both states retain their EU membership following the break-up. [69] [70]
The UK had first applied to join in 1961, but this was vetoed by French President Charles de Gaulle. A second application, in 1967, was again vetoed by France. [1] After de Gaulle had relinquished the French presidency in 1969, the UK made a third and successful application for membership. Denmark and Ireland also joined as part of the same ...
The Maastricht Treaty of 1992 included protocols on the UK [6] and Denmark giving them opt-outs with the right to decide if and when they would join the euro. The Labour government of Tony Blair argued that the UK should join the euro, contingent on approval in a referendum, if five economic tests were met. [7]