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Brexit: May says no compromise, no plan Bs

The UK prime minister objects to Norway model suggestions as Germany’s economic data puts further pressure on the ECB to tighten its monetary policy.

May’s leadership called into question

Theresa May is trying to secure enough support ahead of the crunch Brexit vote in the UK Parliament in December. Meanwhile, some politicians are discussing a possibility of a Plan B, suggesting adapting the Norway model – something the UK prime minister has objected to in the past.

Inflation in Germany remained above the European Central Bank’s (ECB) 2 per cent target in November but accelerated at a slower pace year-on-year compared to the previous month, with prices having risen only by 2.3 per cent. This adds further impetus to the central bank’s gradual rollback of its substantial stimulus in the Eurozone.

In Italy, Deputy Prime Minister Matteo Salvini said the government was not looking to cut its 2019 deficit target by more than 0.2 of a percentage point of gross domestic product (GDP), leaving it at 2.2 per cent.

In the US, the number of jobless claims in the Thanksgiving week surged to a six-month high of 234,000. Such a rise was attributed to holiday-season hiccups and other temporary factors, with the monthly average up by 4,750 to 223,250.

Finally, world leaders are meeting in Argentina for the annual G20 summit this weekend amid ongoing amplified US-Chinese trade tensions and now new skirmishes between Russia and Ukraine. In response to the latter, US President Donald Trump has already cancelled his planned meeting with his Russian counterpart Vladimir Putin.

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