BREXIT and its Prospective Impact on U.S. – European Relations
In the face of the British people’s vote to leave the European Union, there is widespread uncertainty about the decision’s impact on transatlantic relationships. In order to “clear the fog” a panel was set up to examine the political, economic and legal consequences of the referendum. The panel was chaired by Gleiss Lutz-Partner Dr. Stephan Wilske, LL.M. and composed of Dr. Ralf Horlemann (Consul General of the Federal Republic of Germany, Boston), Alan P. Larson (Senior International Policy Advisor, Covington & Burling LLP, Washington D.C.), Laurence Shore (Partner, Herbert Smith Freehills, New York) and Prof. Stefan Vogenauer (Director of the Max Planck Institute for European Legal History, Frankfurt/Main). Among other aspects, the discussion hereby focused on the referendum’s impact on Europe’s position on the world stage as well as the future role of the European Union and the United Kingdom in international free trade agreements (e.g. TTIP). The panel also covered a variety of further topics, including the consequences of the referendum in the light of international civil procedure law and international dispute resolution.
Hereby the prestigious participants successfully identified the most significant challenges posed by the British withdrawal from the EU and - to the extent possible - pointed out possible solutions and prospects. However, considering that the US election was not yet decided at that time and the withdrawal negotiations between the EU and the UK still looming ahead, there was much room left for speculation. A full report on the panel will soon be published in the Journal for German and American Law (ZDAR).