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Parliamentary questions
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7 January 2019
E-005327/2018(ASW)
Answer given by President Juncker on behalf of the European Commission
Question reference: E-005327/2018

On 30 March 2019, the United Kingdom (UK) will leave the European Union and become a third country.

The expected impact of Brexit is negative for the economies of both parties, because frictionless trade exists only in the EU single market and its customs union. The disruption and negative economic impact is expected to be much larger on the UK than on the Union, given their respective sizes and the position of the Union as first trading partner of the UK.

A no deal scenario puts the costs higher than an orderly exit. The European Commission has issued a series of notices covering a wide range of policy areas, including several aspects of trade, the purpose of which is to draw the attention of stakeholders to the consequences of the withdrawal of the UK and inform them about the legal framework applicable to third countries — as opposed to the situation from which Member States benefit(1).

Furthermore, on 19 July 2018 and 13 November 2018, the European Commission adopted two Communications on preparing for the UK's withdrawal from the EU which explain the possible consequences of a no-deal scenario and the importance of contingency planning(2).

The European Commission also carries out regular assessments of the EU's economy in the framework of the European Semester(3).

(1)https://ec.europa.eu/info/brexit/brexit-preparedness_en
(2)https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52018DC0556R%2801%29 https://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1542793594757&uri=CELEX%3A52018DC0880
(3)https://ec.europa.eu/info/business-economy-euro/economic-and-fiscal-policy-coordination/eu-economic-governance-monitoring-prevention-correction/european-semester_en

Last updated: 7 January 2019Legal notice