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Italy reaches budget breakthrough after the EU initially rejected its 2019 spending plans

“Italy and the European Commission, the EU’s executive arm, have announced a new budget deal after weeks of wrangling over the country’s 2019 spending plans” writes Holly Ellyatt for cnbc.com. “Credible and sustainable budgetary policies cannot be planned on over-optimistic forecasts,” he added, alluding to Italy’s original draft budget. Source: cnbc.com Share This:

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ALSO: 100 Days Until Brexit, And GPs Like Me Have Started Stockpiling Medicines – How Has It Come To This?

“The government will never commit an act of national damage as grievous as a no deal Brexit” writes Dr Clare Gerada for huffingtonpost.com. That may be true, let’s cross everything and hope the worst visions of a no deal Brexit do not come to pass.All of the Brexit options, deal or no deal, are dreadful.Nor is there a deal that promises medicines will flow over the border as easily as they do today. Source: huffingtonpost.com Share This:

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Brexit deal hinges on final bid to win over DUP, say senior Tories

“Although one said they doubted MPs would fold on their decision to vote down the deal until they had defeated it at least once” writes Jessica Elgot for theguardian.com. Senior Eurosceptic Tories, including Jacob Rees-Mogg, have since said they intend to accept May’s victory and support the government in any no-confidence vote, though they maintain opposition to the withdrawal deal.Theresa May will be within 20 votes of winning a parliamentary majority for her Brexit deal if she can gain assurances from the EU that will persuade the Democratic Unionist party…

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Italy strikes deal with EU commission over budget, says ministry spokeswoman

“Italy has reached a deal with the European Commission over its contested 2019 budget, a spokeswoman at the economy ministry said on Tuesday, adding that the accord would be formalized on Wednesday in Brussels” writes Francois Lenoir for cnbc.com. The Commission rejected Italy’s expansionary draft budget in October, saying it was in clear breach of EU fiscal rules. Source: cnbc.com Share This:

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Hardline Polish government makes surprise concession to EU over Supreme Court 

“The law, which came into effect in July, saw 22 supreme court judges forced to quit their posts before the expiration of the constitutional term” writes Lucy Denyer for telegraph.co.uk. Polish president Andrzej Duda has backtracked on a controversial law that suspended members of the country’s supreme court after an international backlash and protests across the country.The government pushed through an amendment on Monday suspending parts of the law that forced judges into early retirement, a rare example of the country stepping back from a conflict with the EU and…

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Volkswagen may have to step up electric car plans to meet EU CO2 targets

“BERLIN/FRANKFURT/MUNICH (Reuters) – Volkswagen may have to step up its plans for mass production of electric vehicles in order to meet tougher-than-expected European targets to cut greenhouse emissions from cars, its chief executive said on Tuesday” writes Midwest Communications Inc for 95kqds.com. German rivals BMW and Daimler declined to comment on the EU targets, referring instead to statements from industry groups.Overall, VW plans to spend almost 44 billion euros on developing electric cars, autonomous driving and new mobility services by 2023, aiming to become the most profitable manufacturer of battery-powered…

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British government steps up ‘no-deal’ Brexit preparations

“We’re going to be discussing ‘no deal’ planning today,” International Development Secretary Penny Mordaunt told reporters” writes Midwest Communications Inc for 95kqds.com. “It’s absolutely right that we step up ‘no deal’ planning now.LONDON (Reuters) – Prime Minister Theresa May and her ministers will on Tuesday step up preparations for a “no deal” Brexit, an outcome made more likely by a deadlock in parliament over the British leader’s divorce deal with the European Union.”I’m not going to try and pretend otherwise that we’re not stepping up our preparations for no-deal … Source:…

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Theresa May says postponed Brexit vote to be held week of Jan 14

“May’s authority also has been shaken after a no-confidence vote from her own party on Wednesday that saw more than a third of Conservative lawmakers vote against her” writes Danica Kirka for sun-sentinel.com. May told lawmakers in the House of Commons on Monday that they would resume debate on the deal when Parliament comes back after its Christmas break the week of Jan. 7, with the vote held the following week.The British government and the EU sealed a divorce deal last month, but May postponed a parliamentary vote intended to…

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China, EU lambast United States for miring WTO in crisis

“GENEVA (Reuters) – The United States came under fire from China and the European Union on Monday, accused by both major trading partners of taking protectionist measures and bringing the World Trade Organization (WTO) to its knees” writes Midwest Communications Inc for 95kqds.com. “The multilateral trading system is in a deep crisis and the United States is at its epicentre,” said EU ambassador Mark Vanheukelen The heated words were exchanged at a review of U.S. trade policies, held every two years. Source: 95kqds.com Share This:

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The budget battle may be coming to an end…

“A ‘bottomless’ budget deficit, paired with such a level of debt does pose significant risk” reports forexlive.com. Would a budget deficit increase to 2.4% of the GDP, be of any help?. Disaster struck, as Italy announced its plans earlier this year to run a budget deficit of 2.4% of GDP not only for 2019, but also for two consecutive years thereafter.Through stronger growth – higher tax revenues and a lower deficit could be achieved over the course of a few years.Drowning in political and economic crisis, some already started to…

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