London’s High Court will deliver its verdict today on whether British lawmakers, rather than the government, must trigger the formal process of leaving the European Union, a decision that could affect the circumstances of Britain’s exit.
The court heard a challenge last month from campaigners who argued Prime Minister Theresa May and her ministers do not have the authority to invoke Article 50 of the EU Lisbon Treaty, the mechanism by which a nation can leave the bloc, without the explicit backing of parliament.
If the challengers win their legal fight, lawmakers might have to vote on whether and when Article 50 should be triggered, which could lead to delays or even, in theory, block Brexit altogether.
The court case is being closely monitored by market players who believe the more parliament is involved, the greater the chance there is of a “soft Brexit”, where Britain stays in or remains close to the EU single market.
