Brexit, but rEEAmain

On 29 March 2017, the UK government notified the European Council of its intention to withdraw from the EU. Surprisingly, the notification remained silent as to the UK’s membership in the European Economic Area (EEA).

In their seminar, the speakers will argue that the UK will remain part of the EEA despite Brexit unless the UK government should decide to explicitly withdraw from the EEA. A continuing EEA membership has important consequences that could significantly affect both the imminent negotiations and the legal situation after the two-year negotiation period under Article 50(3) of the TEU has lapsed: EEA law guarantees companies from the UK access to the single market, but remains outside of the ECJ’s jurisdiction. Furthermore, the EEA Agreement potentially even allows the UK to unilaterally restrict the free movement of workers.

The speakers will discuss these and other implications of the UK’s continuing EEA membership (including the European passport for financial institutions and the EEA financial mechanism), and will outline its advantages as a default regime.

Professor Dr. Ulrich G. Schroeter

Ulrich Schroeter is a full professor at the University of Basel (Switzerland). Prior to taking up his position in Basel in February 2017, he was a professor of law at the University of Mannheim (Germany) (2012–2017). Ulrich has published books, book chapters and articles on contract law, international trade law, European Union law, treaty law, arbitration, commercial law and financial markets regulation, and has received awards for both his research and his teaching. His works have been cited by courts in Australia, Austria, Germany, the Netherlands, Switzerland and the United States of America as well as by Advocates General at the European Court of Justice.

Heinrich Nemeczek

Heinrich Nemeczek is a research fellow at the University of Basel (Switzerland) and attorney-at-law. He worked in the law department of Credit Suisse Securities (Europe) Limited and at Freshfields Bruckhaus Deringer LLP in Frankfurt (Germany) in the field of financial regulation. Heinrich has published articles on contract law, international trade law, financial regulation, intellectual property and competition law.