The European Union and Britain have agreed on the terms of a post-Brexit transitional period, says EU chief Brexit negotiator Michel Barnier.
With Britain set to exit the EU in March 2019, the transition period is meant to provide companies and citizens with certainty right after Brexit and allow enough time for Britain to put post-Brexit systems in place.
The agreement foresees keeping all EU rules in place in Britain until the end of 2020.
"The period of transition requested by the United Kingdom will be a time which is useful, very useful, for the United Kingdom administration and businesses in order to prepare themselves for the future," Barnier said.
Share
