Considering this case, the court ruled that any state, a member of the EU, can cancel the movement under Article 50 of the Treaty on the European Union without the approval of the other EU members.
The Supreme Court of the European Union at 9:00 (CET) ruled that the UK can change its decision about Brexit. This increases the chances of people who want to stay in the EU to change the decision to date X (March 29, 2019, 23:00 London time). In 2016, the UK voted to withdraw from the bloc and referred to Article 50 of the EU Treaty of Lisbon in March 2017, initiating a two-year exit process.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]The United Kingdom may unilaterally withdraw the notification of its intention to withdraw from the EU. Given the absence of any EU exit clause in Article 50, countries can change their opinion in accordance with their own constitutional procedures and that such a move reflects the country’s sovereign decision.[/perfectpullquote]
— EU Court of Justice (@EUCourtPress) December 10, 2018
The plaintiffs in the European Court were the lawmakers from Scotland, who asked to make a decision on whether the United Kingdom can independently abandon the procedure for exiting the bloc. The UK government can take advantage of this decision at any time until the withdrawal agreement enters into force.
The decision of the EU Supreme Court comes the day before the fierce clash in the British Parliament, which on Tuesday will vote for the ratification of the previously signed agreement with the EU on leaving the EU. The country’s prime minister, Theresa May, faces significant challenges, as even the representatives of her conservative party were not ready to support this agreement. Various parties in parliament put pressure on the transfer of the ratification vote, but Theresa May does not want this, as this will give Brexit opponents a chance to lobby for the second referendum on withdrawal.
On Sunday, additional police forces were deployed in London amid fears of clashes between Brexit supporters led by ultra right-wing activist Tommy Robinson and those who want to stay in the EU. Thousands of supporters of the Independence Party of Great Britain and Tommy Robinson, whose real name is Stephen Yaksli-Lennon, spoke together to accuse May of insufficient efforts to leave the EU. They were met by thousands of people who wanted to stay in the EU.
How Brexit Influenced UK Companies
List of large companies that publicly voiced their actions in connection with the approaching Brexit
- AIG – American insurance company has created a new headquarters in Luxembourg, to ensure further work with clients from the EU.
- Admiral Group – an insurance company moves its business to Spain (Madrid and Seville) to ensure the work of the European division
- Airbus – the company is stocked with parts to maintain production in case of customs delays
- British Telecom – one of the largest telephone networks is preparing a new technology platform for working with customers from Europe
- CME Group – one of the largest stock exchange operators (owns the Dow Jones index) transfers the $ 250bn short-term lending and repo market from London to Amsterdam
- Dechra Pharmaceuticals – is considering the possibility of creating double test centers (in the UK and Europe) to test drugs for animals
- Panasonic – company moved its headquarters from London to Amsterdam
- Schaeffler is a German manufacturer of ball bearings used in cars and the London Eye, closes two out of three manufacturing plants in the UK.
- Steris, a manufacturer of surgical equipment, plans to move its corporate base from the UK to Ireland.
- Swissquote – Swiss bank plans to move its retail business in Europe from London to Luxembourg
- The Hut Group – an association of online stores with products for body care plans to move to Wroclaw, Poland.
- Vauxhall – automaker can close one of two plants in the UK
- AstraZeneca, Novartis, Pfizer, Sanofi – pharmaceutical companies increase existing stocks. AstraZeneca is making plans to launch a new test center in Europe.
- Rolls-Royce, Heineken – companies are increasing their own stocks to ensure future deliveries to consumers.
- Victrex, a manufacturer of plastics used in smartphones and cars, orders additional storage space in the mainland of Europe and China, and also produces additional raw materials for increasing stocks in the UK.
- Smurfit Kappa Group, Europe’s largest manufacturer of cardboard boxes, abandoned plans to build a plant of 50 million pounds (63.9 million dollars) in the UK.
- Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Nomura, Societe Generale, Standard Chartered, UBS – banks will cut some of their employees in the UK and open jobs in continental Europe.
Additionally, companies such as: BMW, Bentley, Jaguar Land Rover, Philips, Toyota stated that an unsuccessful transaction on Brexit can paralyze the work of factories and corporate offices, because of which they will be transferred to other countries