[b]MP vote ruled necessary for an Article 50 trigger in the UK[/b]
The British pound is soaring this morning because the UK high court decided today that parliament must vote on whether or not to trigger article 50. This does not mean the end of a BREXIT, where the popular vote is what originally carried this through, MPs would be hard pressed to act against their constituents in a manner that would prevent them from reelection. That said, the major issue here is that this act can no longer be done more or less discretely by the UK government itself. There will have to be hearings, assessments, voting and the complete hullabaloo for an act this big to be passed.
What exactly does that mean? It means that in order for parliament to come to a decision many of the UK negotiations may come to the forefront into the public eye before any deals are written in stone, therefore exposing their own hand before the last bet is in place.
Ask yourself, when has adding a layer of bureaucracy to a complicated situation ever been a good thing?
That said the main focus of this particular battle was one of process rather than politics.
Ms Miller said: "This case was about process not politics. My dedicated team are absolutely delighted to be able to be part of this debate and to bring some sobriety as we go forward."
Basically the concern was that leaving the triggering of Article 50 up to the UK government alone would be constitutionally crossing the boundaries on prerogative powers. That decisions of this magnatude should be left up to the people, ie parliament.
The legal challenge was brought by fund manager Gina Miller with others including a Spanish hairdresser and expats living in France.
The crux of the legal challenge was whether the government could use royal prerogative powers - the residue of powers once held by the monarch - to trigger Article 50 without a parliamentary vote. The government argued prerogative powers cover foreign affairs, including the making and unmaking of treaties, and no parliamentary vote is needed.
Like I said above, parliament could entirely block BREXIT, but it is more likely that it will be delayed and continue to be delayed until all parties can come to some sort of agreement, hence the reference to an exposed hand as far as trade deals and such with other nations, putting the UK at risk of being taken advantage of in the global market place.
The pound took off because this situation is thought to bring much less of a threat of a hard BREXIT and an extended timeline for the assumed collapse of their economy.
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