A Special Status Inside the European Union

After long and agonising talks with other EU leaders in Brussels, David Cameron has finally struck a deal over Britain’s future in Europe.

Shortly after the talks David Cameron said in a press conference that, “I have negotiated a deal to give the United Kingdom special status inside the European Union.”

Donald Tusk, President of the European Council announced the agreement after more than 24 hours of intense discussions over British demands to curb benefits for migrant workers. “Unanimous support for new settlement for the UK in Europe,” he said after a final agreement was signed off at dinner of 28 EU members in Brussels.

Whilst compromises had to be made by Cameron such as restricting welfare payments to Eastern European workers, the deal as a whole will be viewed as a victory for the Prime Minister.

“Britain will be permanently out of ever-closer union, never part of a European super-state, there will be tough new restrictions to our welfare system for EU migrants – no more something for nothing – Britain will never join the euro and we’ve secured vital protections for our economy.”

So what are the key points from the deal:

  • If a bail out is required of another EU member country, the British taxpayer will be reimbursed.
  • British businesses cannot be discriminated against just because they are outside the Euro zone.
  • Safeguards for Britain’s large financial services industry to prevent eurozone regulations being imposed on it
  • the Euro zone cannot act as a block to undermine the single market.
  • the pound will be protected as the EU has agreed there is more than one currency and responsibility for securing the financial stability of the UK remains in the hands of the UK.
  • It will be easier for services industries to compete in the EU and for businesses to access capital, and the EU has given commitments it will establish trade deals with other blocs, meaning a boost to competition
  • On migration, there will be new powers to stop criminals and suspected terrorists from coming to the UK and to deport them if they commit crime.
  • On benefits, anyone coming to the UK from the EU who does not find work within six months can be required to leave
  • there will be an emergency brake that allows the UK to stop paying in-work benefits for seven years, and EU migrants working in Britain can no longer send child benefit home at UK rates.
  • On protections against further union, treaties will be changed so that the principle of an ‘ever-closer’ union will not apply to Britain. This specifically means that Britain can’t be forced into further political integration.
  • It will become easier for governments to block unwanted legislation, If 55% of national EU parliaments object to a piece of EU legislation it may be rethought.

Now all that’s left to do is to start campaigning! The IN vs OUT referendum will take place on the 23rd of June.

Iran is back in Business

The International Atomic Energy Agency has declared that Iran has met its side of the nuclear deal, which will see huge economic sanctions lifted from the Islamic Republic.

The head of the United Nations’ nuclear agency confirmed that Iran has curbed its ability to make nuclear bombs, and as agreed with world powers in July last year, in return would mean that the nation would be able to gain hugely from the sanctions being lifted.

The sanctions imposed by the European Union, United Nations and U.S.A included the freezing of billions of dollars of assets, disallowing Iranian oil to be sold internationally and trading on global financial markets. The sanctions have cost the country more than $160bn in oil revenue since 2012.

After a decade of unprecedented economic sanctions, which has crippled their economy, Iran, the holder of the world’s fourth-largest reserves of crude and largest of natural gas, is about to be back in business.

The announcement will trigger a financial windfall for Iran, as it stands to gain access to more than $100bn in assets frozen overseas, and will be able to resume selling oil on international markets and using the global financial system for trade

The director General of the International Atomic Energy Agency, Yukiyo Ama said that “Relations between Iran and the IAEA now enter a new phase. It is an important day for the international community. I congratulate all those who helped make it a reality.”