European Commission president, Ursula von der Leyen, announces legal action against the UK over a breach of the Brexit withdrawal agreement
- Internal market bill is by its very nature a breach of the Brexit withdrawal agreement
- If adopted, it will be in full contradiction
- Commission has decided to send a letter of formal notice to the UK
- UK has one month to respond to the EU on the letter
- This is the first step in an infringement procedure
That's pretty much all there is to say for now. It'll now come down to whether or not the UK will look to amend the bill at the House of Lords but that surely will also cause plenty of internal complications with Boris Johnson and his aides.
Given the situation, we may very well be headed for yet another situation where the can gets kicked down the road to November. But for now, let's see how the UK will respond.
The pound is still keeping lower near 1.2850 currently but off earlier lows of 1.2820.
