Brexit Day Is Here!

January 31, 2020
via Pixabay

It’s not a false alarm, people: Brexit is happening. On January 31st, the United Kingdom will officially break away from the European Union. While this day may seem like it’s fast approaching, getting here has been quite the challenge. After all, it’s taken over two years, countless delays, a resignation of a prime minister, an election of a new prime minister, and a snap election to finally get the votes necessary to pass a Brexit agreement that the majority of Parliament (and the EU) could agree on. So what does the agreement cover? Some of the major areas include travel between countries, money, citizen’s rights, and trade. To commemorate this long-awaited and historically significant day, the UK is issuing a commemorative fifty-pence coin.

So is it all over now that Brexit Day is almost upon us? Yes. Is the UK officially done with the EU? No. Although the UK is no longer part of the EU, the two must still come up with a trade agreement and hammer out what their new relationship will look like. Will the EU, for example, have access to fisheries that are technically part of the UK? What goods will be taxed when they cross borders? So many questions, we know! Working out a trade agreement isn’t an easy task, but Prime Minister Johnson is confident that he’ll get it done by December 31st.

Side note: Is this the first time you’ve heard of Brexit? Want to learn more? Check out Xyza’s Brexit video here and search for Brexit on our website for all the Brexit news you’ve missed!