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Monday, January 25, 2021
Home News International News EU Plays The Money Card As Johnson Faces Brexit Revolt In Parliament

EU Plays The Money Card As Johnson Faces Brexit Revolt In Parliament

LONDON (Reuters) – The European Union on Monday ramped up pressure on Prime Minister Boris Johnson to step back from breaking the Brexit divorce treaty, delaying a key decision on London’s euro clearing just as he faces a rebellion in the British parliament.

The European Union says Johnson’s plan would wreck trade talks and propel the United Kingdom towards a messy Brexit while former British leaders have warned that breaking the law is a step too far that will tarnish the country’s image.

The House of Commons is due to vote on moving the Internal Market Bill, which the EU has demanded London scrap by the end of the month, to its next amendment stage after a debate that Johnson will introduce.

As Johnson prepared to try to persuade lawmakers that his plan to explicitly break international law was worth supporting, a derivatives industry source said the European Commission had delayed a decision on euro clearing.

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