December 7, 2023

How the EU will help mitigate the effects of Brexit |  Stream

How the EU will help mitigate the effects of Brexit | Stream

The end of the Brexit transition period on December 31, 2020 means the end of the free movement of people, goods, services and capital between the EU and the UK, with negative social and economic repercussions for people, businesses and public administrations on both pages.

To help Europeans adapt to the changes, EU leaders agreed in July 2020 that Reserve adjustment for Britain’s exit from the European Union to accomplish. The fund has been awarded €5 billion (at 2018 prices) and will be paid out by 2025. EU member states will receive the money from December after Parliament approved it on September 15.

How much will my country get?

The fund aims to help all EU member states, but it is planned that the countries and regions most affected by Brexit will receive the most support. Ireland tops the list, followed by the Netherlands, France, Germany and Belgium.

Three factors are taken into account when determining the amount for each member state: the importance of trade with the UK, the value of fish caught in the UK’s exclusive economic zone, and the population size in the EU’s maritime zones that make up the UK to be the closest.

See also  The European Union and the United States should demand reforms from bin Salman