(I WILL MAKE YOU THE BRAINLIEST) What is a major current event that is happening in Europe? Why is that event important? How does this event affect Europe politically, economically, and for the future of Europe? I need 2 paragraphs for an answer.

After 47 years, the UK is no longer an EU member. Three and a half years after the majority of citizens in the referendum decided that they wanted their country to leave the European Union, the UK flag was lowered in silence in Brussels. After leaving the Union, there is a transition period in the UK, which implies that the country will remain a member of the single EU market and customs union by 31 December 2020. During the transition period, the UK will remain closely allied with the EU, but by 31 December 2020 a new trade deal, security agreement and immigration laws will be drawn up. During this 11 month period many changes will occur that will affect both travel to and from the country.
There will not be much change at the start of the transition period, European visitors will still travel with IDs and electronic passports, but even if an agreement is reached by the end of the year, it is possible that foreign travelers will need to use special lines at airports and ferries terminals. During this period, Britain will generally continue to comply with EU law, that is to say it remains in the Customs Union and the Single Market, meaning it will continue to respect trade and freedom of movement laws. What will change is that Britain will no longer have the right to vote in the European Parliament, nor will British ministers attend high-level meetings. Over the next 11 months, Britain and the EU will negotiate new relations, notably trade, employment, security, immigration. If no agreement is reached within 11 months, the UK will face increases in prices for food, medicine and other goods.