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Free AccessUK Gov't Falls Short Of Ripping Up NI Protocol But Demands Re-Write
The UK gov't has released its 'command paper' on the implementation and future of the Northern Ireland protocol in the Brexit Withdrawal Agreement. The paper does not go so far as to recommend unilaterally tearing up the protocol, or invoking Article 16, which allows for the disapplication of the protocol, but does argue that the protocol needs rewriting to better serve the people of Northern Ireland.
- Link to paper: https://assets.publishing.service.gov.uk/governmen...
- Sections four and five of the document, titled "An alternative way forward: finding an agreed new balance" and "Establishing this new balance" are the crucial sections as it is here that the gov't lays out its alternative proposal to the EU of how the protocol could or should work.
- One of the most controversial sections for the EU is likely to be the assertion by the UK that "the relationship between the UK and the EU is not ultimately policed by the EU institutions including the Court of Justice." For the EU, having a non-EU body determining EU law is likely to prove unacceptable, and potentially illegal under the various treaties.
- For its part, the EU seems unlikely to acquiesce to the UK's demands in this command paper, setting the stage for a show-down come end-September when grace periods on the export of chilled meats from GB to NI expire.
To read the full story
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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.