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European Council adopts contingency measures for a no-deal Brexit

European Council adopts contingency measures

The Council of the European Union today adopted contingency measures on the implementation and financing of the 2019 EU budget in the event of a no-deal Brexit, Report informs citing the Interfax.

The aim of the measures is to mitigate the impact of a no-deal scenario for funding in a wide range of areas such as research and agriculture. They will enable the EU to continue making payments to UK beneficiaries for contracts signed and decisions made before the withdrawal date, as long as the UK continues paying its contribution agreed in the EU budget for 2019.

Notably, European Parliament agreed to these emergency measures on April 17, 2019.

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