Brexit: Past, Present & Future

In this episode we discussed about Brexit it is an abbreviation of 'Britain' and 'exit' and refers to the withdrawal process of the United Kingdom from the European Union.

This withdrawal process of the United Kingdom commenced following the referendum held on June 2016 and the subsequent notification to the European Council on March 2017.

The UK then entered an 11-month transition period in which to negotiate its future relationship with the European Union, ended barring an extension - on 31 December 2020.

Although the UK's withdrawal from the European Union took place on 1 February 2020, the Withdrawal Agreement came into force thenceforth, which regulated the orderly withdrawal of the UK from the EU.

As from 1 January 2021, relations between the UK and the EU are based on the "Trade and Cooperation Agreement" - an ambitious agreement, but one that amounts to a major change for citizens, companies and public authorities in both the EU and the UK.

We further discussed about the pro cons of this very important event.

In the course of our discussion we agreed that the pros of brexit is short lived as brexit was poorly planned and implemented, This have further initiated cracks in United Kingdom.

Will London be able to cement its position as a global trading centre without the help of EU is a question of speculation.