The Ticking Clock

EU Budget and the Impending Recession

11 August 2020

Whether it is Brexit or COVID-19, every day brings more conflicting information. The only constant is the commendable behaviour of the EU and its Member States. The EU is becoming one of the beacons of stability.

Just until a few months ago, we all felt we lived in times of uncertainty due to the unending Brexit drama. Today, believe it or not, Brexit is not settled, and the clock is still ticking.

An agreement between the UK and the EU should be reached by the end of the year. However, the talks are not progressing, and the only reason is that COVID-19 put everybody’s minds and efforts to more pressing concerns.

The June deadline has passed but sure enough, it was extended until the end of October. Nobody will be genuinely surprised if this deadline is not met either and the end of the transition period pushed into the future.

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Tomasz Kasprowicz

Vice President of the Res Publica Foundation, economic editor of Res Publica

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