EU launches legal case against UK over Internal Market Bill By Reuters


© Reuters. FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels

BRUSSELS (Reuters) – The European Union on Thursday launched a legal case against Britain over its new Internal Market Bill that undercuts London’s earlier legal commitments under its Brexit divorce treaty, the head of the bloc’s executive said.

Such so-called infringements could lead to hefty fines being imposed by the EU’s top court but that takes years, leaving plenty of time for the UK to change tack.

London now has one month now to reply to a formal letter of complaint from the Commission, which will then assess whether the answer is satisfactory and can then request that the UK falls back in line. If that fails, it can sue at the Luxembourg-based European Cort of Justice.

The move comes as British and EU negotiators struggle to close the gap on state aid in paralell trade negotiations that have been overshadowed by the new controversy over the Internal Market Bill.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here