Why can the EU tolerate Britains delays in leaving Europe?

 Why can the EU tolerate Britains delays in leaving Europe?

DATA FIGURE: Public rallies and protests against European secession. (Image source: Xinhua)

From March 29 to April 12 and now October 31, the date of Britains exit from Europe has been delayed by another half a year. On April 10, local time, the EU once again extended the deadline for Britains exit to the end of October and will review it in June. British Prime Minister Trisha May has agreed to the European Unions proposed delayed exit plan.

Previously, the European Union had been tough, and was reluctant to compromise easily on Britains picking and picking. European Commission President Juncker warned Britain that the EUs patience with Britains exit from Europe was running out. However, this time the EU is willing to extend the date to the end of October, and European Commission President Juncker has even indicated that the EU may offer Britain the idea of a one-year flexible period. Obviously, the EU has chosen to be patient with the chaotic situation of Britains exit from Europe.

After all, as far as the EU is concerned, once Britain chooses the non-agreement exit plan of hurting its enemy eight hundred and hurting itself one thousand, the EU will also face enormous economic pressure. According to the Guardian, although Britain is the biggest loser of the hard-to-break-out, with economic losses of 125 billion pounds by 2020, the EU is also at risk. If Britain returns to WTO agreements, both Britain and the EU will suffer losses in trade tariffs and cross-border trade in goods, with direct losses of up to 50 billion euros. If companies directly involved in trade supply chains are included, the losses incurred by 27 countries will amount to 112 billion. Uncertainty in Global trade has put pressure on European economic growth. Once Britain breaks away from Europe, the risk will cast a shadow on its growth prospects.

Among them, Germany will bear tremendous risks. The automobile industry accounts for 18% of Germanys production share, and Germany currently exports the most cars to the UK. According to the International Monetary Fund forecast, Germanys economic growth in 2019 was only 0.8%. Once Britains hard disengagement from Europe leads to an increase in import and export tariffs, it will also have a major impact on Germany. This is why Germany has been calling on Britain to stay in the EU and jointly defend European prosperity. As the core member of the EU and the largest economy, Germanys attitude to a certain extent affects the current EUs softening on the issue of Britains delayed exit from Europe.

However, this time, the EU only agreed to postpone the time of the EUs exit, and did not make any concessions on the core issues involved in the agreement. Juncker has made it clear that the EU will not renegotiate the de-EU agreement with the UK. The extension is just a time for the UK Parliament to continue cross-party negotiations on issues such as the Irish border backup arrangement. However, many previous rounds of negotiations have failed, with serious differences among political parties and difficulties in achieving cross-party cooperation. Teresa Mays task remains arduous.

Source: Overseas Network Responsible Editor: Pan Qingqing_NBJS5830