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The latest developments show that the United Kingdom will be able to leave the European Union, following the internal agreement given by the House of Commons (British Parliament), it is clear that negotiations will begin on October 31 to conclude the Brexit documents. In this context, with the acceptance of Britain's exit from the European Union, negotiations will begin, which will not be easy at all, regarding the free movement of goods and people in the European Union. Of course, a number of citizens of the other twenty-seven European Member States work, travel or settle in the United Kingdom. At the same time, a large proportion of British citizens are also temporarily settled, traveling under the Free Movement of Persons Directive in other Member States. On the other hand, it is about the free movement of goods in the European Union. The Member States of the European Union will want to conclude an agreement with the United Kingdom on the free movement of goods which, in a sense, is once again being transformed into import-export trade relations. The United Kingdom, for its part, will be interested, according to all the data currently available, to be included in an agreement with a view to the free movement of goods. But they will not be so easy in accepting the free movement of people, starting from the fact that in the UK, citizens of all Member States move freely. In this respect, between the European Union and the United Kingdom, there will be sufficiently consistent and serious negotiations in relation to the correlation of the two European Union directives on the simultaneous movement of goods and services, but also of persons. The United Kingdom is likely to wish to enter into individual agreements with EU Member States on the free movement of persons. On the other hand, Brexit also means an additional difficulty in setting up the UK's annual and multi-annual budget. In this respect, account must be taken, on the one hand, of the significant share of the United Kingdom's contribution to the Community budget and the not at all impressive amounts which the United Kingdom receives from the European Union, especially in the field of the agricultural budget (ACP) find the distribution method according to the budget that will be formed. Some countries that have difficulty accessing EU funds are likely to receive fewer allowances in the coming period. These are just some of the difficulties that may arise in the face of the Member States of the European Union in terms of how stakeholders and actors, in the Member States, can meet the future challenges that will become more and more numerous and sensitive.
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To cite this article: Anghelache, C., Anghel, M.-G., Iacob, S. V., Grigorescu, D. L. (2020). The Brexit Effect on the Possibility of the European Union and the Member Countries to Face the Future Challenges, International Journal of Academic Research in Accounting, Finance and Management Sciences 10 (2):122-132.
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