EU Parliament’s Approval of UK Deal Not Guaranteed – Head

The European Parliament would not block a deal to help keep Britain in the European Union but may not back it fully, its president said on Tuesday, as British Prime Minister David Cameron prepared a final push to secure support for the deal.

Cameron must hammer out differences with fellow EU leaders at a summit on Thursday over a plan to reform Britain’s relationship with the European Union. If Britain subsequently votes to stay in the EU, the European Parliament would still need to approve key elements of the deal.

“I can give you a guarantee that the European Parliament will, immediately after the referendum to stay in (Europe), legislate on the proposal of the Commission,” Parliament President Martin Schulz told reporters after his meeting with Cameron.

“But to be quite clear, no government can go to the Parliament and say: this is our proposal, can you give a guarantee about the result. This is not possible in a democracy.”

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam