Page 9 - aruba-today-20190129

A9
WORLD NEWS Tuesday 29 January 2019
UK leader under new pressure to secure EU Brexit concessions

By JILL LAWLESS and insists her agreement
DANICA KIRKA can still win Parliament's
Associated Press backing, if it is tweaked to
LONDON (AP) — Pro-Brex- alleviate concerns about a
it British lawmakers were provision over the Irish bor-
mounting a campaign der.
Monday to rescue Prime The government hopes to
Minister Theresa May's re- bring the deal back for a
jected European Union di- new vote in Parliament in
vorce deal in a parliamen- February.
tary showdown, as major The border measure, known
retailers warned the U.K. as the backstop, would
could face food shortages keep the U.K. in a customs
if it leaves the bloc without union with the EU in order
an agreement. to remove the need for
Lawmakers threw out May's checks along the frontier
Brexit deal two weeks ago between the U.K.'s North-
and will debate and vote ern Ireland and EU member
Tuesday on competing Ireland after Britain leaves
plans for what to do next. the bloc.
Britain is scheduled to leave That border is crucial to the
the EU on March 29, with or divorce deal because it
without a deal. will be the only land fron-
Much of the business world British Union flags fly in front of The Houses of Parliament in London, Tuesday, Jan. 22, 2019. tier between the U.K. and
says a no-deal Brexit would Associated Press the EU after Brexit. Border
cause economic chaos checkpoints have disap-
by eliminating existing EU and supermarket chains from the EU. avoid a no-deal departure. peared since Ireland and
trade agreements and Sainsbury's and Waitrose "While we have been work- "We anticipate significant Britain both became mem-
imposing tariffs, customs were among signatories to ing closely with our suppli- risks to maintaining the bers of the EU single market
checks and other barriers a letter to lawmakers warn- ers on contingency plans choice, quality and durabil- in the 1990s, and since the
between the U.K. and its ing of "significant disruption" it is not possible to mitigate ity of food that our custom- 1998 Good Friday peace
main export market. if the U.K. leaves without a all the risks to our supply ers have come to expect in accord largely ended de-
Chief executives of fast- deal, given that nearly a chains," said the retailers, our stores," they added. cades of violence in North-
food company McDonald's third of Britain's food comes who urged lawmakers to May says she wants a deal, ern Ireland.q

ECB: Trade peace would remove big drag on eurozone growth

By DAVID McHUGH tariffs imposed by both
Associated Press sides.
FRANKFURT, Germany (AP) Draghi said issues cloud-
— With gloom spreading ing the outlook were anxi-
over the economy of the ety about Brexit and the
19 countries that use the slowdown in China, though
euro, European Central Draghi added that the ECB
Bank head Mario Draghi was confident that the Chi-
said Monday that much of nese government was "tak-
the drag on growth would ing appropriate actions
ease if "clarity and peace" there."
were to break out in the Economic growth in Eu-
trade dispute between the rope slowed in the last half
U.S. and China. of 2018 and indicators at
Draghi said that "the key the start of this year have
factor that we have to look been weak against the
at is the persistence of all background of concerns
these various causes, vari- about slackening global
ous geopolitical factors," trade and unsettling swings
such as uncertainty about in stock prices. The weak
tariffs and whether Britain patch comes just after the
will leave the European ECB ended a nearly four-
Union without a negotiated year stimulus program in-
deal. volving the purchase of 2.6
He said during a ques- trillion euros ($3.0 trillion) in
tion and answer session in government and corpo-
the European Parliament President of European Central Bank Mario Draghi talks to the media during a press conference rate bonds with newly cre-
that many members of the following the meeting of the ECB governing council in Frankfurt, Germany,Thursday, Jan.24, 2019. ated money, and with one
bank's governing council Associated Press of the bank's key interest
expressed the view dur- rate benchmarks below
ing their meeting Thursday the U.S. and China, much from trade has sagged, U.S. and Chinese officials zero, at minus 0.4 percent.
"that if there were all of a of the slowdown would even as domestic demand are to meet this week for The eurozone grew 0.2 per-
sudden clarity and peace probably wash out." is helped by falling unem- trade talks that could stave cent in the third quarter
in trade relations between The eurozone's impetus ployment and rising wage. off further hikes in punitive over the quarter before.q