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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding
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elmatador
To: elmatador who wrote (2031)3/8/2019 5:31:50 PM
From: Elroy Jetson1 Recommendation   of 13781
 
The "Irish Backstop" - who do you think is being unreasonable?

The Problem: Neither the EU nation of Ireland, nor the UK province of Northern Ireland want a border, or a border wall with checkpoints, between Northern Ireland and Ireland. If Brexit comes with border controls in Ireland, PM Theresa May doesn't have enough votes in the British Parliament to put Brexit into place.

Until the the EU and UK agree on a trade agreement, the EU insists the UK remain in the EU common market, following EU rules and tariffs. This is the "Irish Backstop". The UK wants an expiration date on the backstop, but this is impossible.

Without an Irish border or the "backstop" the UK could make and sell products which don't meet EU standards or pay EU tariffs and sell these goods in Europe through the open Irish border. The UK wants to leave the EU but they want the EU to maintain open borders for UK citizens and goods. This is insane. As the EU continues to tell them, you cannot both leave and remain.

The EU has suggested only Northern Ireland has to remain in the EU market until the EU and UK sign a trade agreement. Very sensible. But the UK sees this as the first step to Northern Ireland rejoining the EU nation of Ireland, which is completely unacceptable to them.
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