British Prime Minister Johnson announced on Thursday (17th) that the United Kingdom and the European Union reached a “great new agreement” on Brexit. The Johnson administration plans to hand over the new agreement to Congress this Saturday (19th) and expressed confidence that the agreement will be formally approved by the October 31 deadline.
However, the ruling Conservative Party’s allies, the Northern Ireland Democratic Unity Party (DUP), the largest opposition Labor Party, and the Scottish National Party (SNP) have indicated that they will not support the agreement.
Johnson issued a message on Twitter on Thursday: “We have reached a great new agreement and regained control. Now, Congress should allow Brexit to be realized on Saturday, so that we can turn to the cost of living, the national medical service system, Other priorities such as violent crime and the environment.”
European Commission President Jonker said that the new agreement is fair and balanced for the EU and the UK. He suggested that the leaders of the remaining 27 member states of the EU support the agreement at the summit in Brussels on Thursday and Friday.
The Brexit agreement must be approved by the European Parliament and the British Parliament, respectively, and the Conservative Party does not have a majority advantage in Congress. The new agreement requires about 320 votes to pass, and only 259 of the Conservative MPs will almost certainly vote for it.
The Northern Ireland Democratic Unity Party, which has 10 seats, clearly stated that it will not support the new agreement, saying that the new agreement does not meet the long-term interests of Northern Ireland and will undermine the integrity of the United Kingdom. According to Bloomberg News, three DUP officials reported that the party was dissatisfied with the various arrangements for customs inspections in the Irish Sea.
Labour Party leader Corbin criticized that Johnson’s new agreement was worse than the agreement made by his predecessor, Teresa May. He said: “This agreement to sell the United Kingdom cannot unite the country and should be rejected. The best way to solve the Brexit problem is to let the people make the final decision in the referendum.”
The British government plans to let Congress vote on the new agreement this Saturday. Earlier, the British Parliament rejected the Teresa May version of the agreement three times.
According to sources in Downing Street, Johnson intends to ask at the EU summit to rule out the possibility of delaying the Brexit, forcing British lawmakers to choose between a new agreement and no agreement.
The source said: “He will not ask for an extension. If the EU proposes an extension, he will not accept it.”
In a brief speech at the summit on Thursday, Johnson urged Congress to pass a new agreement and not to delay the Brexit process. Juncker also said that the UK can no longer postpone the Brexit.
The biggest crux of the Brexit agreement is the Irish border issue. The new agreement removes the controversial “backup arrangement” designed to prevent hard borders on the island of Ireland, allowing Northern Ireland to remain in the UK customs territory, but the final destination for goods shipped from the UK to Northern Ireland is Ireland and the EU single market. , there will be tariffs.
After the announcement of the agreement, the British pound exchange rate against the US dollar once rose more than 1% to 1.30; but then fell 0.28% to 1.2798.
Independent economist Julian Jessop pointed out: “After the initial agreement between the British government and the EU, the market is still worried that the agreement does not have enough support to be passed on Saturday.”
According to Deutsche Bank’s assessment, the probability of the Brexit agreement being vetoed on Saturday was as high as 55%. Oliver Harvey, the bank’s macro strategist, said: “In our view, the possibility of an agreement not being passed in parliament is relatively high.”