Stay 
Trading Conditions
Products
Tools
After the president of the European Commission. Ursula von der Leyen, announced that she had officially sent a notice to the UK for a trial regarding the controversial internal markets bill, a dispute arose between the countries, which, according to TalkRADIO host, Mike Graham, could lead in the UK leaving the negotiating table without a trade deal.
Speaking to Liberal Democratic MP, Christine Jardine, who argued that litigation undermines the UK's international reputation, Graham said: "I wouldn't worry too much about my reputation. What should be most worrying is that an agreement will not be signed. Maybe this is some cunning plan?"
The new UK bill, which renounces the borders between Northern Island and the Republic, contradicting the earlier agreements the EU and the UK assented, has jarred the ongoing Brexit negotiations. The European Commission has demanded the UK to abandon this clause, otherwise, the EU will impose legal actions to the country.
"We invited our British friends to remove the problematic parts of their draft law by the end of September," said von der Leyen. "The deadline expired yesterday," she added.
Since the UK insists on enacting the bill, the European Commission has launched a legal procedure, all while continuing to work on the implementation of Brexit.
"We are only fulfilling our obligations," von der Leyen declared.
Now, UK has a month to respond to the official letter from the Commission, and even more time to change course before the executive branch in Brussels can file a lawsuit with the Supreme Court. The case can lead to heavy fines, but it will take years.
Meanwhile, the UK insists that in order to ensure that countries will be free to trade with each other after Brexit, breaking the regulations on Irish territory is necessary. On Tuesday, the lower house of the parliament approved the internal market bill, so now, it is before the hands of the House of Lords.
Although differences still persist between the UK and the EU, UK Secretary Michael Gove said that London will do its best to achieve its goal.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
