UK Concedes Some Ground on ECJ Input

Theresa May’s government will accept a “close cooperative relationship” with the European Court of Justice, in which both past and future rulings would still apply to the U.K. in a concession aimed at accelerating Brexit talks. This is a retreat from the prime minister’s pre-election rhetoric about ending the court’s jurisdiction over Britain. A position paper published Wednesday suggested the government was open to monitoring EU case law, abiding by past ECJ rulings, taking future ones into account, and even referring decisions to it.“There are a number of ways in which it will be possible to deal with dispute resolution in the future,” May told television broadcasters. “The purpose of our paper is to show that we have thought about what that might be; we’ll now obviously go into negotiations with the European Commission to discuss what is the best way forward.”

Source: U.K. Accepts ‘Close’ ECJ Relationship in Brexit Climbdown – Bloomberg

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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.