Mutual Fund

Brexit: UK ignoring EU nations’ concerns

This week as Prime Minister Theresa May appeared to recover somewhat from last week’s political turmoil — that saw several ministerial resignations and letters of no-confidence submitted against her — another potential stumbling block appeared. The 6.7-kilometre-square rock of Gibraltar. The area was ceded to Britain in 1713, though Spain maintains a claim to the territory. Talks on the future of the rock have been ongoing and at points were fraught with some of the difficulties and political sensitivities that have characterised the Brexit process. While in past referenda Gibraltarians have rejected the option of either entering Spanish sovereignty (in 1967), or shared sovereignty (2002), during the Brexit referendum 95.9 per cent voted to remain in the EU. While Gibraltar is outside the customs union that has proved at the heart of the complexities of much of Britain’s negotiations with the rest of the EU, the rock is heavily dependent on a Spanish workforce, thousands of whom cross to the territory each day.

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