Commentary
Society
Unlocked
The Means Of Destruction
28 November 2023
While the Brexit-deal may be an amicable divorce for trade in goods, it is a hard Brexit for finance. As such, this represents both a problem and an opportunity. London’s absence mandates pressing forward with the establishment of a continental European alternative. It also chimes well with the push for EU’s strategic autonomy. For the Visegrad region, the capital markets agenda is crucial to modernising its economic growth paradigm.
The UK opted out the EU in June 2016 and officially departed on 31 January 2020. With the Brexit transition period being concluded, on 1 January 2021, the EU and the UK now form two distinct regulatory and legal entities, a relationship that is bound by international law.
Economic affairs between the EU and the UK – particularly trade in goods – are governed by the Trade and Cooperation Agreement (TCA).
An amicable divorce for trade?
The Trade and Cooperation Agreement is a long-awaited feat. The TCA stipulates provisions under which goods are traded across the Channel and underpins general economic, social, and green collaboration in select strategic areas.
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