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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BRIEF: EU Unfreezes Infringement Procedure Against UK
The EU Commission today announced that it is unfreezing an infringement procedure against the UK, following the latter’s introduction of legislation which would scrap the Northern Ireland Protocol. An EU official said that the UK would be issued with a reasoned opinion and would have two months to respond or face referral to the European Court of Justice.
Depending on the ruling, the UK could face a fine.
The original infringement procedure was launched in March last year but was subsequently frozen to allow negotiations between the EU and UK on making the NIP more flexible. The infringement procedure concerned UK non-compliance with customs, sanitary and phyto-sanitary provisions of the NIP, as well as UK-Northern Ireland trade data. The official also said that the Commission would “flesh out” further details on its October 2021 proposals to make the customs, the sanitary and phytosanitary parts of the NIP more flexible.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.