Thousands of Britons living in the EU will have bank accounts in the UK closed by the end of the year due to the lack of a post-Brexit trade deal. About this writes The Guardian.
In December, British financial institutions will lose their pan-European license to provide financial services in the EU. Banks Lloyds, Barclays, and Coutts have already informed private and corporate clients that they will be left without access to their accounts until December 31st.
The National Bank of the Netherlands has confirmed that UK financial institutions will no longer be able to open accounts for clients in the Netherlands. Since there are many rules in each of the 27 member countries of the bloc, a “bureaucratic nightmare” forced a number of financial institutions to simply stop working in some countries.
The UK officially left the EU on 31 January. By the end of this year, the parties have agreed on a transitional period, during which most of the EU laws will continue to operate. However, in July the parties terminated regular negotiations ahead of schedule, without reaching an agreement on a number of issues. British Prime Minister Boris Johnson has called October 15 the deadline for a new free trade agreement with the European Union.
The consequences of refusing the deal, according to experts, will be “two to three times more destructive” than the consequences of “the worst pandemic.”
The controversial strategies chosen by the British government to negotiate a brace and fight the pandemic have only strengthened Scotland and Northern Ireland’s desire for independence. In August, the majority of the Scottish population voted for secession from the UK for the first time. Is it possible that Boris Johnson will become the gravedigger of the United Kingdom? The European press is reflecting on this topic.
Apparently, the Scots will hold a new referendum
As poll data show, in the forthcoming parliamentary elections in Scotland in May the Scottish National Party can win a loud victory. And then, as New Statesman notes, London can hardly forbid the Scots to hold the second referendum on independence:
“If there is an impression that the British conservatives are denying Scotland the right to self-determination — and, as it will be claimed, hold it hostage — it may turn away from London even the most openly-minded Scots. The British sense of fair play is no less developed on the other side of the Anglo-Scottish border — and therefore it is unlikely to be able to convince people that in the case of a clear victory the SNP will not be entitled to a second referendum. Besides, a loud ‘no’ from Boris Johnson’s lips will only strengthen the positions of those SNP members who are ready to look for new ways and means of gaining independence.
Is Johnson going the Milosevic way?
The Irish Times is drawing very disturbing parallels with the developments in Yugoslavia:
“The movements now underway in the highest echelons of the United Kingdom’s power only exacerbate nationalist tensions and intercultural fears in other parts of the country, which eventually weakens the United Kingdom as a whole. This does not mean that the United Kingdom will sink into the abyss of civil war and genocide as it did in Yugoslavia. All we want to emphasize is that countries are indeed falling apart — and that it is usually the actions of the center that determine how this disintegration occurs. Czechs in their time chose the velvet option and mutual understanding, the Serbs went the way of confrontation and brute force. When one looks at London, one can conclude that they chose the path of dramatization, loud threats, and theatrical gestures.