Renegotiation by the United Kingdom of its Constitutional Relationship with the European Union: Issues Related to the Economic Governance

15-04-2016

The ‘deal’ concerning a new settlement for the United Kingdom within the European Union covers questions relating to the Economic Governance of the EU and of the Euro area. Whilst the ‘deal’ was negotiated with a view to the United Kingdom, the provision in the respective documents of the ‘deal’ address ‘non euro area Member States’. By that, the ‘deal’ on the new settlement has consequences that go beyond the membership of the UK in the EU. As an international agreement, the core document of the ‘deal’, a decision of the Heads of State or Government, exclusively binds Member States but no Union institutions. It, furthermore, must be in compliance with existing EU Primary and secondary law. Otherwise the decision is within the scope of application of EU law inapplicable. This sets the playing field, within which the ‘new settlement’ affects the existing Economic Governance of the EU and the Euro area.

The ‘deal’ concerning a new settlement for the United Kingdom within the European Union covers questions relating to the Economic Governance of the EU and of the Euro area. Whilst the ‘deal’ was negotiated with a view to the United Kingdom, the provision in the respective documents of the ‘deal’ address ‘non euro area Member States’. By that, the ‘deal’ on the new settlement has consequences that go beyond the membership of the UK in the EU. As an international agreement, the core document of the ‘deal’, a decision of the Heads of State or Government, exclusively binds Member States but no Union institutions. It, furthermore, must be in compliance with existing EU Primary and secondary law. Otherwise the decision is within the scope of application of EU law inapplicable. This sets the playing field, within which the ‘new settlement’ affects the existing Economic Governance of the EU and the Euro area.

Autore esterno

Fabian AMTENBRINK, Anastasia KARATZIA and René REPASI (Erasmus University Rotterdam / European Research Centre for Economic and Financial Governance - EURO-CEFG)