British Prime Minister Theresa May proposed a two-year "implementation period" after Britain leaves the EU in March 2019 in a hotly awaited speech in Florence seeking to break the deadlock in Brexit negotiations.
May said that a Brexit "implementation period" is in the "interest" of both the UK and the EU. During this period, the UK would stay in the single market and pay its "fair share" into the EU budget.
This would entail Britain paying around 20 billion euros into the EU coffers in this period, according to media reports.
She said Britain may be leaving the EU, "but we are not leaving Europe" adding that UK wants to be EU's "strongest friend and partner".
She added that the rights of EU citizens in the UK will be fully guaranteed after Brexit. "I'm clear the guarantee giving on your rights is real," she said, adding that a special mechanism needed to be found so that disputes are not left exclusively to UK courts or the European ones. "I want to incorporate our agreement fully into UK law and make sure UK courts can refer directly to it," she said. "When there is uncertainty around underlying EU law, I want the UK courts to be able to take into account the judgment in European Court of Justice with a view to ensuring consistent interpretation".
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