The UK will face the 'Sword of Damocles' of a 'hard Brexit' by the end of this year.

Prime Minister Boris Johnson perfectly planned a reshuffling of parliament and got hold of 80 seats, which is the majority, after the December election. The UK's Conservative Party won as a result, the conservative government also won the principled vote on the Brexit agreement bill this month without any suspense. This means that the UK will no longer be a member of the EU after Jan. 31, 2020.

The UK will then have a 'transition period' of 11 months with the EU, during which the pair will still maintain the current trade relations of zero tariffs and import quotas, and will also discuss their economic and trade relations next year. The pair will trade on the basis of the World Trade Organization's articles as these apply between members, and if the duo fail to reach an agreement before the end of this year this will be a huge disaster for the UK's economy.