Radford Taylor Partners - Article 50 Ruling Increases Chances for Brexit Reversal

Radford Taylor Partners - Rejection of May's Brexit agreement could up chances of stopping Brexit.

The European Court of Justice (ECJ) was recently called upon to hold an urgent hearing to decide whether or not Article 50 of the Lisbon Treaty - the clause by which the UK signaled its intention to leave the European Union - could be withdrawn without the agreement of other EU member states.

The UK is due to leave the European Union in less than four months' time and Radford Taylor Partners analysts say UK Prime Minister Theresa May is battling to garner the necessary support to get her draft deal pushed through the parliamentary approval process.

Last week, the European Court of Justice Advocate General, Manuel Campos Sanchez-Bordon, announced his non-binding opinion on the Article 50 case, saying that the UK could, in fact, withdraw its notice to leave without the approval of other 27 EU member states. This opinion, which Radford Taylor Partners analysts say would more than likely be followed by the ECJ judges, will make May's task of gaining parliament's approval even more difficult as it boosts the hopes of those who are pro-remain.

More recently, May's humiliating defeats in the House of Commons where MPs declared that the government was in contempt of parliament for its failure to reveal comprehensive legal advice on the Brexit agreement contributed to the likelihood that Brexit will not happen as planned.

Radford Taylor Partners analysts say that if the Brexit agreement is rejected at parliament's meaningful vote, due to take place on the 11th of December, there may be calls for a second referendum to be held, giving British citizens another chance to decide whether or not to leave the world's largest trading bloc.

Source: Radford Taylor Partners