The Brexit ball is back in Brussels’s court,
whether officials want it or not. Facing heavy losses at home, U.K.
Prime Minister Theresa May withdrew a parliamentary vote and said she’ll
seek “assurances” on the thorny Irish backstop arrangement at this
week’s summit of EU leaders. European Council President Donald Tusk
responded by calling a Brexit meeting for Thursday, where at most May
will get a discussion on “how to facilitate ratification” — but no new deal.
May has an emergency meeting with German Chancellor Angela Merkel today
in Berlin to discuss possible next steps. On both sides, plans are
being ratcheted up for the no-deal scenario.
Norway Model | With the U.K. Parliament balking at May’s Brexit deal, Norway’s arrangement with the EU is getting another look. It’s a model that might just find broader support — at least as a temporary move — until a better answer can be found. Here’s all you need to know about how a Norway model would work.
Sagging Confidence | Euro-area investor confidence declined for a fourth month in December, with expectations for economic prospects plunging to the lowest since 2012. The report is the latest in a raft of numbers pointing to decelerating growth, further complicating the ECB’s decision as it prepares to cap stimulus.
Macron’s Address | French President Emmanuel Macron admitted he’s lacked sensitivity to the concerns of regular people and promised a raft of new spending as he sought to draw a line under the month-long Yellow Vests crisis roiling France. His concessions: urging companies to pay workers a year-end bonus that won’t be taxed, ending levies on overtime, government funding for a 100-euro-a-month increase in the minimum wage and abolishing a controversial tax on pensions below 2,000 euros a month.
Summit Preparation | European Affairs ministers will gather in Brussels today to finalize the conclusions for this week’s leaders summit. These will include words on migration, security and defense, climate change and disinformation, according to a draft seen by Bloomberg –- although wording on more controversial issues such as Russia’s clash with Ukraine in the Sea of Azov remains blank. The ministers will also hold a hearing on the rule of law in Poland and exchange views on respect for EU values in Hungary.
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