EU’s Sefcovic: EU cannot accept NI protocol being illegally scrapped

Ross J Burland FXStreet

EU's Sefcovic has crossed the worse saying that the EU cannot accept Northern Ireland protocol being illegally scrapped. He has explained that zero checks on Great Britain and Northern Ireland trade are 'not an option'.

This followed the NI protocol bill being passed in its first hurdle, with MPs voting 295 to 221 in favour despite heavy criticism from some Conservative backbenchers, including former prime minister Theresa May, who said the move is illegal and unnecessary.

The second reading was the first opportunity MPs have had to vote on the controversial proposals, which the foreign secretary, Liz Truss, said were “legal and necessary”. Boris Johnson predicted earlier on Monday that the laws could go through “fairly rapidly” and be on the statute books by the end of the year. It is now expected to be fast-tracked through parliament with a condensed committee stage of just three days, instead of the usual two or three weeks.

News related to this situation is seen as negative for the pound.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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