© Reuters. President of the European Central Bank Christine Lagarde gives a speech after receiving an honorary doctorate at the London School of Economics, in London, Britain, June 15, 2022. REUTERS/Peter Nicholls
LONDON (Reuters) – European Central Bank President Christine Lagarde said the rule of law was of paramount importance, when questioned on Wednesday about attempts by Britain to override some Brexit trade rules related to Northern Ireland.
“Reneging on a rule of law that has been established by mutual agreement, without any duress, without proper consideration is a very big issue, and one that we should all be concerned about for the future,” Lagarde said at the London School of Economics.
Britain’s government has said the proposed domestic legislation on Northern Ireland is necessary to ensure smooth trade between the province and the rest of the United Kingdom.
But the European Union launched legal proceedings against Britain on Wednesday in the European Court of Justice, saying the changes would break commitments Britain gave as part of broader post-Brexit trade arrangements.
ECB’s Lagarde stresses rule of law in Brexit dispute