Lords warn against ‘no deal’ as Barnier sets deadline
The House of Lords EU committee has published a report warning Brexit without a trade deal would “deeply damage” Britain’s economy and security – and a March 2019 departure date is “impossible” and should not be put into law. Meanwhile, EU negotiator Michel Barnier has given Theresa May a 48-hour deadline for fresh proposals.
Storm Caroline to bring power cuts and delays
The third named storm of the season is underway this morning. Storm Caroline is expected to bring winds of up to 90mph, with Met Office warnings in place across Scotland. Many roads will be closed and there will be delays to air, rail and ferry services. On Friday morning, most of the UK is expected to be affected by snow and ice.
Saudis join international anger at Trump decision
Saudi Arabia has condemned Donald Trump’s statement yesterday, in which he said the US will now recognise Jerusalem – contested between Palestine and Israel – as the Israeli capital. Saudi Arabia called the decision “unjustified and irresponsible”. Trump received a campaign donation of $25m from a pro-Israel casino owner last year.
IMF warns of stability threat from Chinese debt
The International Monetary Fund (IMF) is warning in a new report that China could be the trigger for a new global financial crash because of its growing dependency on debt. Personal debt has increased there in the past five years and the credit-to-GDP ratio of national debt is 25%, which the IMF calls “very high by international standards”.
Source:: The Week – All news