EU to demand indefinite ECJ oversight after Brexit - FT

The Financial Times (FT) quoted three officials who have seen the text, citing that the EU will propose a draft Brexit withdrawal agreement on Wednesday that requires the UK to accept the European Court of Justice (ECJ) as the ultimate arbiter of treaty-related disputes.

Key Highlights:

“The uncompromising “governance mechanism”, backed up by sanctions that cut off market access if Britain ignores court rulings, is among a host of potentially explosive political issues included in the 160-paragraph document.

Should the ECJ become the dispute settlement body for the withdrawal agreement it would require Britain to accept its rulings well beyond the end of a transition, which the UK wants to last for around two years after Brexit in 2019.

Indefinite oversight is required because parts of the withdrawal deal, such as the financial settlement of at least €40-45bn, will be potentially discharged over a decade or more.”