Brexit: Seven big questions looming in 2018
The announcement of 'sufficient progress' removes a big layer of uncertainty for markets and the UK economy, but there are still a number of big questions looming in 2018. Read the short report by ING Economics Department.
After months of deadlock, the EU and UK have finally reached a deal which allows the European Council to declare 'sufficient progress' to move onto trade talks. The UK has reportedly agreed to meet all of the financial commitments set out by the EU earlier this year. They have also accepted that the European Court of Justice will have a role to play in policing citizens rights, formally a big red line for the UK government.
But the big sticking point was the Irish border. The wording agreed earlier in the week, which committed to 'no regulatory divergence' on the island of Ireland, raised fears within the Democratic Unionist Party (DUP) that this could weaken Northern Ireland's access to the UK internal market. But a series of additional commitments - including one that guarantees 'unfettered access' for Northern Ireland to the overall UK market - appears to have reassured the DUP.
Now these 'divorce issues' are resolved, here are the seven things we'll be focusing on in 2018.