Court Hearing on UK Single Market Membership Next Week

A legal challenge to the government over whether Britain’s exit from the European Union will automatically take it out of the single market will be heard in court next week, the group that initiated the action said on Tuesday.

It is one of several legal battles over how Britain should go about quitting the EU and trading with it afterwards – a conundrum requiring a trade-off between Brexit voters’ desire for immigration controls and the economic need for good trading terms with the bloc.

The government argues that Britain’s exit from the EU, known as Brexit, will also end its membership of the European Economic Area (EEA), which provides access to the single market and its free movement of goods, capital, services and people.

Reuters

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MS

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.