Page 8 - ARUBA TODAY

A8 WORLD NEWS
Thursday 24 augusT 2017
French leader presses labor rules in central Europe tour

By KIRSTEN GRIESHABER nent’s eastern nations, so- sisting the European free in Western countries where abroad to up to one year.
Associated Press called “posted workers.” market isn’t supposed to welfare costs are higher. “I have good hope that we
BERLIN (AP) — French Presi- Macron said after meeting benefit countries that have The largest number work will be able to keep push-
dent Emmanuel Macron Austrian Chancellor Chris- less protective workers’ in construction, but many ing forward on that issue”,
on Wednesday pushed tian Kern in Salzburg that rights. also work as welders, elec- he said.
for tighter European Union France and Austria “have While abroad, posted tricians or caring for the el- Kern stressed that Europe
rules to protect workers in the exact same views on workers continue to pay derly. needs to tackle the issue
France and other prosper- this issue.” into the tax and social se- Macron wants to require together.
ous countries in Western He said he considered the curity systems of their home companies to pay posted “We don’t want Europe to
Europe from cheaper labor current rules as a “betrayal countries, allowing employ- and local workers the same get split up into old and
stemming from the conti- of the European spirit”, in- ers to hire them for less than salaries and limit postings new.”q

Eurozone recovery ongoing as focus turns to Jackson Hole

years. That may allay some That’s not ideal for a cen-
recent fears that the rise in tral bank which is aiming
the euro over the past few to stoke price pressures
months was sapping ex- in the economy. The ECB
ports by making eurozone aims for an annual inflation
products less competitive rate of just below 2 per-
in international markets. cent. In the year to July, it
In a little more than four remained well short of that,
months, the euro has ris- at 1.3 percent. “We think
en more than 10 percent that improvements in infla-
against the dollar, and ear- tion to above 1.5 percent
lier this month it breached are unlikely for the coming
the $1.19 mark for the first months, so look for a cau-
time since the start of 2015. tious Draghi at the end of
It’s shown similar strength the week,” said Bert Colijn,
against the British pound. senior eurozone economist
The euro’s recent strength, at ING. Draghi’s upcom-
which has been based ing comments have add-
largely on growing signs ed resonance because
of economic momentum they will be made just a
in the eurozone, has been couple of weeks before
one reason why many ECB the ECB’s next scheduled
watchers think the central policy meeting on Sept.
This Thursday, March 9, 2017 photo shows the President of the European Central Bank Mario Draghi bank will tread carefully 7. The prevailing view in fi-
in Frankfurt, Germany. The eurozone economy is on course for another solid quarter of economic
growth, a closely watched survey indicated Wednesday ahead of a keenly awaited speech from in reining back its stimulus nancial markets is that the
the European Central Bank’s chief Friday. measures, which has seen it ECB will extend its stimulus
(AP Photo/Michael Probst) slash interest rates including measures into next year but
By PAN PYLAS company IHS Market said has continued through the its main one to zero. It has with some reduction of the
Associated Press its purchasing managers’ summer despite the recent also sought to keep market amount in monthly bond
LONDON (AP) — The euro- index for the 19-country appreciation in the euro. interest rates, which affect purchases.
zone economy is on course single currency bloc rose to The survey reinforces mar- the costs of loans and mort- Neil Wilson, senior market
for another solid quarter of 55.8 in August from 55.7 the ket expectations that the gages, low by flooding the analyst at ETX Capital, said
economic growth, a close- previous month. The slight eurozone will for the sec- financial system with newly financial markets should be
ly watched survey indicat- increase was unexpected ond time in a row grow by created money. The ECB wary ahead of the Jack-
ed Wednesday ahead of — most forecasters were a healthy quarterly rate is pumping 60 billion euros son Hole gathering of the
a keenly awaited speech predicting a modest fall. of 0.6 percent in the third ($71 billion) a month into world’s central bankers,
from the European Central Given that anything above quarter of the year. the economy. and not just about Draghi.
Bank’s chief. In the run-up 50 indicates expansion, the Particularly encouraging As well as potentially weigh- Janet Yellen, the U.S. Fed-
to Friday’s big speech from survey of the eurozone’s was the fact that the man- ing on exports, the high cur- eral Reserve chair, will also
ECB President Mario Draghi manufacturing and ser- ufacturing sector was able rency has the potential to be at the event and she
at Jackson Hole, Wyo- vices sectors suggests that to secure new export orders keep a lid on inflation by could lay out changes to
ming, financial information the region’s momentum at the fastest pace in 6 1/2 making imports cheaper. the Fed’s intentions. q

Britain says top EU court could still have role after Brexit

By JILL LAWLESS May’s government has re- The reality is more com- over the treatment of their and neutral.”
Associated Press peatedly said Britain will no plex, and illustrates some of citizens in the Britain. In a paper released
LONDON (AP) — The Euro- longer be bound by rulings the challenges involved in Alexander Winterstein, a Wednesday, the Depart-
pean Union’s highest court of the Luxembourg-based disentangling the country spokesman at the EU’s ex- ment for Exiting the Europe-
could still carry weight in European Court of Justice from the EU. ecutive Commission, said an Union said a new com-
Britain after Brexit even once it quits the bloc in The 27 other EU states want Wednesday that the bloc’s mittee or arbitration panel
though the country will 2019. the European court to re- position was “transparent would have to be created
leave its “direct jurisdic- May said Wednesday that tain authority over the inter- and unchanged.” to deal with disagreements
tion,” the U.K. government Britain’s Supreme Court pretation and implemen- The British government, over the interpretation and
said Wednesday. “will be the arbiter” of Brit- tation of the Brexit agree- however, says the EU’s pro- application of the Brexit
Prime Minister Theresa ish laws. ment, and have oversight posal would not be “fair deal.q