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Row With EU Set To Escalate As UK Attorney General Green-Lights Ditching NI Protocol

UK
Political RiskPolitical Risk BulletBulletMarketsFixed IncomeForeign ExchangeUKBank Of England Market News

The Times reports that UK Attorney General has ruled that London could rip up large parts of the Northern Ireland protocol as the EU's implementation of it is "disproportionate and unreasonable."

  • The newspaper said that Attorney General Suella Braverman justifies her ruling accusing the EU of "undermining the Good Friday agreement by creating a trade barrier in the Irish Sea and fuelling civil unrest."
  • Separately, EU sources told the Guardian that the UK's threats to ditch parts of the Brexit deal could undermine alliance against Vladimir Putin, while the FT cited a document sent to member states by the European Commission, which warned that “renegotiation of the protocol” was “not an option.”
  • A source report circulated by the Guardian pointed to internal opposition against the government's plan, noting that "between 30 and 50 Conservative MPs canvassed by colleagues said they had significant doubts about whether they could vote for a bill that would unpick an international treaty." In addition, "senior MPs warned there were a number of ministers prepared to resign if faced with passing the bill."
  • UK Foreign Minister Liz Truss will speak with EU Brexit Commissioner Sefcovic Thursday morning but their talks are not expected to bring any breakthrough.
  • As for the timing of overriding the Northern Ireland protocol, the FT reported that ministers could discuss scrapping parts of the Brexit deal as soon as on Thursday and the bill could be unveiled next Tuesday.
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The Times reports that UK Attorney General has ruled that London could rip up large parts of the Northern Ireland protocol as the EU's implementation of it is "disproportionate and unreasonable."

  • The newspaper said that Attorney General Suella Braverman justifies her ruling accusing the EU of "undermining the Good Friday agreement by creating a trade barrier in the Irish Sea and fuelling civil unrest."
  • Separately, EU sources told the Guardian that the UK's threats to ditch parts of the Brexit deal could undermine alliance against Vladimir Putin, while the FT cited a document sent to member states by the European Commission, which warned that “renegotiation of the protocol” was “not an option.”
  • A source report circulated by the Guardian pointed to internal opposition against the government's plan, noting that "between 30 and 50 Conservative MPs canvassed by colleagues said they had significant doubts about whether they could vote for a bill that would unpick an international treaty." In addition, "senior MPs warned there were a number of ministers prepared to resign if faced with passing the bill."
  • UK Foreign Minister Liz Truss will speak with EU Brexit Commissioner Sefcovic Thursday morning but their talks are not expected to bring any breakthrough.
  • As for the timing of overriding the Northern Ireland protocol, the FT reported that ministers could discuss scrapping parts of the Brexit deal as soon as on Thursday and the bill could be unveiled next Tuesday.