Member-only story
Ok Boris, now what?
The vote has been cast. The die cut. The UK is marching full speed towards Brexit.
The Brit’s have decided they no longer want to be in the European Union sandbox. They are taking their toys and going home, believing they will be better off.
The EU came into being in 1993. It has more than 510million people in it, and accounts for approximately $22 trillion in economic activity, or just over $43,000 per capita of the UK. In a word, it is a pretty big sandbox.
Leaving, will be no small feat. That said the UK is set to leave on January 30, 2020.
So, what does all of this mean?
Simply put, all the rights and trade agreements in place with the EU will be cancelled. The UK will have less than a year to put together new ones to replace those it had while in the EU. These will include new deals on trade, travel and immigration.
Put another way, if you like oranges, prepare to start paying more. If you live and or work in the EU, you’re fine for now, but after December 31, 2020, at this point its anyone’s guess what will be required.
Also, get ready to start making divorce payments.
That’s right. One provision in the EU agreement is any country who chooses to leave, will have to pay.