Eu­ro­zone growth ‘los­ing mo­men­tum’ as Bri­tain re­bounds

Malta Independent - - WORLD -

With busi­nesses fret­ting over po­lit­i­cal un­cer­tain­ties, in­clud­ing the po­ten­tial im­pact of Bri­tain’s exit from the Euro­pean Union, eco­nomic growth in the 19-coun­try eu­ro­zone has lost some mo­men­tum, a closely watched sur­vey found yes­ter­day.

How­ever, a sur­vey of Bri­tish busi­nesses pro­vided fur­ther ev­i­dence that they have put the ini­tial shock of the Brexit vote be­hind them, thanks partly to the plunge in the pound. The drop in the cur­rency, which this week hit to a 31-year low against the dol­lar, makes Bri­tish ex­ports more com­pet­i­tive.

What both the eu­ro­zone and Bri­tain have in com­mon is the out­look re­mains clouded by what hap­pens next re­gard­ing Brexit.

Bri­tish Prime Min­is­ter Theresa May con­firmed over the week­end that she will in­voke by March the so-called Ar­ti­cle 50 of the EU treaty, the mech­a­nism by which two years of talks on Bri­tain’s exit of­fi­cially com­mence.

Be­yond that, it’s all very un­clear, es­pe­cially what Bri­tain’s trad­ing re­la­tion­ship with the re­main­ing 27 EU coun­tries will be like.

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