UK: Can the Supreme Court’s ruling change May’s Brexit-plan? - Rabobank
Carlijn Prins, Economist at Rabobank, notes that the UK Supreme Court is expected to rule this month whether Ms. May has the power to invoke Article 50 of the Treaty of Lisbon, without the prior approval of parliament.
Key Quotes
“If the Supreme Court mandates a role for Parliament, May’s end-March 2017 deadline for invoking Article 50 might not be met. Parliament even has the power to prevent Brexit, although at this point it seems unlikely that the Commons or the Lords would vote against triggering Article 50, as they would be blamed for voting against the referendum decision.”
“If legislation is required to exit the EU, parliament will probably have more say in the negotiation strategy of the UK. The majority of Members of the House of Commons (MPs) is pro-EU and they are likely to give priority to access to the Single Market.”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
