Withdrawal Agreement European Investment Bank

«I would also like to thank Michel Barnier and his colleagues and their British counterparts for their constructive cooperation in ensuring the EIB`s unique role as an EU bank, which is not compromised by Brexit,» Hoyer said. Even if the UK`s exit can take place at a high and rather abstract level between the UK and the European Union, its consequences for citizens, professionals and entrepreneurs will be very real. Thanks to the internal market, Member States` economies are closely linked, with integrated cross-border supply chains and full cross-border service delivery. Withdrawal can therefore have important consequences for these operators. During the transitional period, the UK would remain bound by obligations under international agreements to which the EU is a member. The EU informs the other parties to the agreements that during the transitional period, the UK must be treated as a member state for the purposes of these agreements. · As far as energy efficiency is concerned, the transformation of the EU 2030 target (percentage) into absolute values must be adapted to take account of the UK`s withdrawal. Preparing for the UK`s withdrawal from the European Union, whatever the scenario, is everyone`s business. The withdrawal will change relations and have a significant impact on EU citizens and businesses in 27 Member States, some of which cannot be corrected. At EU level, examples of precautionary measures are the relocation of deciving agencies based in London and the reallocation of tasks from the British authorities to the EU-27 authorities. These are necessary independently of an agreement with the United Kingdom, as it is not possible to entrust such tasks to the Eu or to the admission of EU institutions to a third country. · Negotiations on future relations: the European Union should negotiate with the United Kingdom an agreement on future relations, which should ideally be in place at the end of the transition period (agreed, signed and ratified) and which should apply from 1 January 2021.

Emergency planning for the worst possible outcome is not a sign of mistrust in the negotiations. The Commission is devoting considerable resources and considerable efforts to reach an agreement. That remains our goal.

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