ZEW President Achim Wambach on Brexit Taking Effect on 31 January 2020

Britain’s imminent withdrawal from the EU will mark a historic date for Europe. On this date, a Brexit transition period kicks in, which will last until the end of the year, allowing the UK and the rest of the EU to negotiate their future relations. President of ZEW Mannheim, Professor Achim Wambach, comments on this matter.

“After the withdrawal date has been extended three times, Brexit now becomes reality. It is not a day to celebrate – neither for the British, nor for the EU. Brexit taking effect, however, is only half of the job. Now is the time to reach a good trade agreement that meets the interests of both sides.

The trade agreement will be far less controversial in the British Parliament than the upcoming withdrawal was. So this time it will be less down to the British if the deal is delayed and the transition period needs to be extended.“