Court to Rule on Parliamentary Vote on Article 50

Prime Minister Theresa May will learn on Thursday whether she must seek parliamentary approval before triggering the formal process of leaving the European Union, a step some investors hope will lessen the chances of an economically disruptive “hard Brexit”.

London’s High Court will hand down its judgement on whether May and her ministers have the authority to invoke Article 50 of the EU Lisbon Treaty, the mechanism by which a country can leave the bloc, without the explicit backing of parliament.

May says she is determined to honour voters’ decision in a referendum last June to leave the EU, and has the authority to do so.

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 SKY News. 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