UK Reentry into EU Potential Timeline
EuropeComments
This is just the geopolitical version of a bad breakup where you realize the grass wasn't greener. It is essentially the Norway model on steroids, just with more embarrassment for the architects of Brexit.
Getting rid of the customs declarations would be a massive win for small exporters. My neighbors in the manufacturing trade spend more time on paperwork than on actual production now.
Suppose the 'short timeline' overlooks the current EU appetite for new members. Would the technical ease of reentry outweigh the political risk of admitting a state that recently opted out?
criteria are a formality; the euro is the real hurdle.
The article specifies that the negotiator is referring to a 'fast-track' alignment phase. This implies the UK would first adopt Single Market rules before seeking full political membership, which is a distinct step the summary glosses over.
The OBR has consistently estimated a 4% long-term hit to GDP compared to remaining. The economic drag makes the 'ego' argument a quantitative reality.
What about the financial services sector specifically... would the City of London get its passporting rights back immediately... or would that be a separate negotiation?
Regarding the 'plumbing' mentioned, does the negotiator specify if the UK would be granted a grace period for the acquis communautaire? I am curious if they expect a full adoption of post-2020 regulations without the usual transitional arrangements.