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(CNN) Boris Johnson has spent decades agitating against the European Union and the last five years battling to free the United Kingdom from the shackles of regulation from Brussels. Now he s in the awkward position of finding himself at the mercy of EU leaders for permission to rejoin an international treaty, or risk devastating Britain s multi-billion-dollar legal services industry.
The agreement in question is called the Lugano Convention, and essentially it establishes the jurisdiction of national courts, guaranteeing the legal recognition and enforcement of a wide range of civil and commercial judgments in cross-border disputes.
London is widely regarded as the global capital for international dispute resolution, thanks to England s world-class legal system and courts. It is a broad and highly lucrative industry, dealing with everything from family disputes to international business operations. And a long-term failure to rejoin the Lugano Convention could represe