We must 'hold our nerve' on Brexit, May to tell MPs

REUTERS  PETER NICHOLLS

"The talks are at a crucial stage", May will say, according to extracts from her statement to parliament released in advance by her Downing Street office. May can strike a compromise that will win over critics. Opponents, including dozens of Ms.

The British government classified the meeting as "constructive and Mr Barclay and Mr Barnier agreed to further talks in the coming days and that their teams would continue to work in the meantime on finding a way forward". May's fellow Conservative MPs, say the backstop defeats the goal of leaving the European Union and they want it removed or amended with a time limit.

Cooper said her bill would require May and parliament to resolve by the middle of March whether Britain is leaving the European Union with a deal, leaving without a deal or seeking an extension to the deadline.

On the question of the backstop - an insurance policy to prevent the return of a hard border between the British province of Northern Ireland and EU-member Ireland - the station said Robbins had outlined a strategy to satisfy May's Conservative lawmakers.

Mark Carney, governor of the Bank of England, finds dark clouds on the horizon in a speech on Tuesday, but sees a potential upside to Brexit.

Warning that the Prime Minister was preparing to use the extra time needed to get an agreement for her deal - which may never materialise anyway - to delay Brexit, UKIP leader Gerard Batten warned the Prime Minister of the potential repercussions for her party if she betrayed Brexit.

But many Conservative MPs are anxious that this arrangements suits the EU, so it may stall talks and leave Britain trapped in the customs union indefinitely.

Pro-Brexit Tory MPs also pressed Ms.

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But EU leaders insist the legally binding withdrawal agreement can't be changed.

Parliamentary experts have said that even if May succeeds in getting a deal approved by lawmakers, Britain may need to request an extension to the Article 50 exit negotiation period in order to approve necessary legislation. Guy Verhofstadt, the European Parliament's lead Brexit official, expressed exasperation on Tuesday at Ms.

"Unfortunately I didn't hear any concrete proposal to break the deadlock".

"The combination of Brexit uncertainty, slowing world - and United Kingdom - economic growth and lower forecasts for inflation suggests a far slower normalization of policy", said George Buckley at Nomura, who pushed back his expectation for the first hike to November from May. Figures released Monday showed that Britain's economy slowed a year ago to its joint-slowest annual rate since 2009, with business investment declining for four straight quarters. Business investment dropped by 3.7 per cent in the fourth quarter of 2018, the fourth consecutive quarterly decline.

"If there's a silver lining from the mounting signs that the uncertainty caused by Brexit is holding back GDP growth, it's that the economy could enjoy a decent rebound if a Brexit deal is agreed", said Paul Dales at Capital Economics.

Bank of England Governor Mark Carney said Tuesday that United Kingdom investment had not grown since the 2016 European Union membership referendum, and has "dramatically underperformed both history and peers". "We are 45 days before the possibility of it", Mr.

"Both sides want a Brexit deal that supports ongoing friendship between UK/EU/France so patience and goodwill on backstop now the critical ingredient", he tweeted.

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