May's Brexit Pitch, Italy Budget, Emerging Markets 2019: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news from Bloomberg Economics:

  • Theresa May begins selling her Brexit agreement to skeptical politicians in Britain with a warning: "there is not a better deal available." EU leaders approved the plan and said it can’t be re-negotiated
  • U.K. businesses stand to lose access to a $1.7 trillion public procurement market if signatories to a World Trade Organization accord this week block Britain’s application for membership, which will lapse after it leaves the EU in March
  • Mario Draghi’s grilling by European lawmakers on Monday is the highlight of a critical few days for the European Central Bank as the president considers whether more stimulus is needed to overcome the euro-area slowdown
  • Olive branch: Italian Deputy Premier Matteo Salvini signaled a new openness to change the nation’s budget deficit target for next year
  • Loosening the purse strings: Global governments are doing the most to propel the world economy in a decade just as growth slows
  • Comeback: A pause in the Federal Reserve’s interest rate hiking cycle, a weaker dollar and softer oil prices will ease external pressures on emerging markets in 2019, reversing a theme that dominated this year
  • An attack on a diplomatic mission in Karachi last week shows the risks Chinese businesses face as they expand across Pakistan in the face of growing resentment over Beijing’s influence in the economy
  • A key gauge of manufacturing health in Japan fell to its weakest level in two years in November, offering another warning sign that a period of synchronized global growth may be coming to an end
  • India will focus on boosting its exports to the U.S. and other global markets as Chinese shipments become unattractive amid a trade war between the world’s biggest economies -- even as China seeks to sweeten its ties with India
  • The Philippines is boosting spending the most among governments in Asia, shielding the economy from global trade tensions and an emerging-market rout, but also straining the nation’s budget deficit
  • See how Indonesia’s tax windfall is helping curb the budget deficit

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