March 3, 2024

How the European Union will help mitigate the impact of Brexit | Threads

The end of the Brexit transition period on 31 December 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 impacts on people, businesses and public administrations across the board. .

To help Europeans adapt to the changes, EU leaders agreed in July 2020 to… Reserve to adapt to Brexit To accomplish. The fund grants five billion euros (at 2018 prices) and is scheduled to be paid out by 2025. EU member states will receive the money from December after Parliament approves it on September 15.

How much will my country receive?

The fund aims to help all EU member states, but it is planned that the countries and regions most affected by Britain's exit from the European Union will receive the greatest amount of support. Ireland tops the list, followed by the Netherlands, France, Germany and Belgium.

When determining the amount for each member state, three factors are taken into account: 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 maritime areas closest to which the UK is closest.

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