Last Thursday, Britain’s High Court ruled that the government cannot initiate the process of leaving the EU without an approval from Parliament, a landmark occurrence that could further push/delay the implementation of Brexit. Three senior judges further detailed that Prime Minister Theresa May’s administration does not have the power itself to give pursuant to Article 50 of EU’s Lisbon Treaty, the formal notification of Britain’s intent to leave EU.
The government has nonetheless expressed disapproval, mentioning they will appeal against the ruling since the county voted for Brexit in a referendum approved by Parliament. May intends to trigger Article 50 between New Year and end of March in a move supported by EU leaders calling for a swift divorce to limit uncertainty over Britain’s future.
Elsewhere, the pound has since rallied against the euro and the dollar after the High Court pronouncement, following weeks of plunging to multi-year low points against its main rivals.