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EUROPE POLITICS: UK and EU agree to crucial Northern Ireland trade deal in Brexit breakthrough
KEY POINTS
- British Prime Minister Rishi Sunak described the new agreement known as the Windsor Framework as the beginning of a new chapter for the relationship between the U.K. and the EU.
- European Commission President Ursula von der Leyen added that the Framework respects and protects the legitimate interests of the respective markets.
- Sunak is set to make a statement in Parliament at 1830 GMT.
LONDON British Prime Minister Rishi Sunak on Monday signed a new trade deal with the European Union designed to remedy problems caused by the Northern Ireland Protocol.
Speaking at a news conference shortly after the announcement, Sunak described the new agreement known as the Windsor Framework as the beginning of a new chapter for the relationship between the U.K. and the EU.
European Commission President Ursula von der Leyen added that the framework respects and protects our respective markets and our respective legitimate interests. And, most importantly, it protects the very hard-earned peace gains of the Belfast Good Friday Agreement.
Sterling hit a session high of $1.2051, up 0.9%, shortly after the announcement. The euro also rose 0.7% hit a session high of $1.0613.
Sunak is due make a statement in Parliament at 1830 GMT. He said lawmakers would get to vote on the new agreement at the appropriate time, adding that vote will be respected.
A deal years in the making
The U.K. may have left the European Union on Jan. 31, 2020, but the Northern Ireland Protocol has sparked persistent disagreement ever since. This part of the Brexit deal mandates checks on some goods that travel to Northern Ireland from the rest of the U.K. with the new negotiations aimed at easing these rules.
Unionist parties in Northern Ireland which is part of the U.K, unlike its neighbor Ireland, which is part of the EU have argued that the checks place an effective border in the Irish Sea. The Protocol has also been criticized for jeopardizing the Good Friday Agreement a long-standing peace deal that brought an end to three decades of sectarian violence in Northern Ireland.
Sunaks government has sought amendments to the deal signed by former Prime Minister Boris Johnson, who has led calls from the hardline Eurosceptic wing within the ruling Conservative Party to rip up the deal he himself negotiated.
Breaking from predecessors Johnson and Liz Truss, Sunak has taken a less combative approach to engagement with the EU in the hope of reaching a resolution on key issues surrounding Northern Ireland by easing checks on goods traveling across the Irish Sea.
Photo collection to Google.
I think the completion of this trade deal marks the beginning of a whole new chapter.
British Prime Minister Rishi and European Commission President Ursula Mon der Leyen will be able to reach their goal of full peace after the deal is completed.
Very good
