Politics
20:36, 19-Dec-2018
EU implements Brexit 'no deal' contingency plan
Updated
20:21, 22-Dec-2018
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The European Union on Wednesday announced it is implementing a contingency plan in the event that Britain leaves the bloc without a Brexit deal in 100 days.
The plan includes 14 measures in a limited number of areas covering financial services, air transport, customs, and climate policy, amongst others.
The measures are aimed to ensure that the "necessary contingency" measures can enter into application on March 30, 2019, in order to limit the most significant damage caused by a "no-deal" scenario in these areas, according to the bloc.
Under the plan, the EU will allow UK-based financial operators to continue to access European markets for 12 months under a "temporary and conditional equivalence" period to prevent disruption.
Europe will allow British flights to continue to access the "Single European Sky" air traffic control area for 12 months and extend some aviation licenses for nine months after March 29.
Source(s): AFP
,Reuters