In a major breakthrough, UK and EU have jointly agreed on a transition period which will avoid an abrupt Brexit in 2019. The deal came at the cost of a potential border solution with the Irish Republic which might face a rigid opposition at home. The news that Britain will still be a part of EU for 21 months ending with 2020 although in non-voting capacity surged the Pound to a new high. The deal will, however, come into effect only after London signs the withdrawal treaty by March next year.
Amid the jubilations, the hard facts are that the deal will actually mean resolving all the issues especially the border problem with Northern Ireland which can literally derail the peace there. Britain has maintained that the free trade deal with EU which will be finalised by 2021 will cater to the Irish demand but Dublin is pushing for a fallback arrangement just in case the future agreement will not work. Although both UK and Ireland are committed to a free passage of people and goods across the intra-Irish border with no return to any checkpoints although a solution for customs after Brexit is still on a slippery ground.