EU, U.K. agree to delay Brexit till Oct. 31

  1. European Union have granted the UK a six-month extension to Brexit, The new deadline which is 31 October,2019 will averts the prospect of the UK having to leave the EU without a deal on April 12.
  2. However,the EU has told the UK that it must hold the elections to the European Parliament and if it fails to do this,the UK will leave the EU in June.Further,EU has reiterated that there can be no reopening of the withdrawal agreement negotiations on Brexit deal.
  3. After two years of Brexit negotiations,the U.K was meant to leave the EU on March 29.With Parliament not backing the deal,the government asked for a short delay to April 12 in order to get backing for an alternative Brexit strategy.
  4. Since,that has also failed to materialize,UK PM was then forced to ask for a longer delay in order to prevent the U.K leaving the bloc without a deal.
  5. Article 50 of the Treaty of Lisbon gives any EU member state the right to quit unilaterally and outlines the procedure for doing so.It gives the leaving country two years to negotiate an exit deal.UK triggered Article 50 in 2016.
  6. Brexit is a term used to define United Kingdom coming out of EU.During a referendum in 2016,UK voted by a narrow margin in favour of Brexit.
  7. European Union is a political and economic union of 28 member states. A monetary union was established in 1999 and came into full force in 2002 and is composed of 19 EU member states which use the euro currency.The EU and European citizenship were established when the Maastricht Treaty came into force in 1993.