economy with nicky morgan, former treasury secretary. have a look at what's happening to european stocks. rising for a second consecutive day. up bying those losses, 1.8% today. --tria leading the advance the euro up by .5%. all of these currencies gaining against the dollar. there's concerns about a global trade war today. bonds, commodities, you find those two columns. let's talk about the italian election. we had an inclusive -- inconclusive result. the result did not add to uncertainty. the uncertainty surrounding the election has stemmed enthusiasm for the euro. the premium to own three-month call options relative to puts rising to a one-month high -- continuing that rise today suggesting investors are taking political uncertainty in europe's third-biggest economy in stride. trade focusing on thursdays ecb meeting. that's the biggie later this week. gdp data out of south africa today. growth excelling for the first year in four in 2017. a recovery in output after the worst drought in more than a century. gdp expanding 1.3% last year

nicky morgan, remainer, happy with that.oster, dup leader, happy with little salt who was not happy with that? nigel farage. and the european parliament chief negotiator. i would suggest that tomorrow or even to light theresa may will be happy with the way the speech has gone down. light theresa may will be happy with the way the speech has gone downm was a tricky balancing act to keep all of these different sections happy. the telegraph has nicky morgan and william rees mogg both coming out with favourable reactions. there is obvious the lot of detail still to come out but it is interesting that she did say that she was not going to be buffeted by demands to walk out. as well as saying we are leaving the single market and the customs union, she is also telling eurosceptics that she is not going to walk away from the table, she will pursue negotiation. it would not be unusual for a speech to be delivered and for its to meet a p pa re ntly to be delivered and for its to meet apparently quite a lot of general agreement initial

nejra: we've got a quote from nicky morgan.re becoming aware of cryptocurrencies, such as bitcoin, but they may be unaware they are unregulated in the u.k. striking the right balance to provide adequate protection for consumers and businesses while not stifling innovation is crucial. she summed it up quite nicely there. is the u.k. behind at looking into this compared to other countries? ed: other countries took decisive steps to rein in cryptocurrency or to say they will. you have seen china crackdown on initial coin offerings last september. south korea has been going back-and-forth on banning all trading across the board. we have seen the sec in the u.s. issuing dozens of subpoenas. clearly signals the crackdown. in the u.k., it's been a watchful approach. they say they are aware of this and i see the potential, but we are not going to run in with any decisive measures until we thoroughly understand the ramifications of these technologies. that is clearly what nicky morgan is doing now. saying we are going to bring everythin

nejra: we've got a quote from nicky morgan.e are becoming aware of cryptocurrencies, such as bitcoin, but they may be unaware they are unregulated in the u.k. striking the right balance to provide quick protection for consumers and businesses while not stifling innovation is crucial. she summed it up nicely. is the u.k. behind at looking into this compared to other countries? ed: other countries took decisive steps to rein in cryptocurrency or to say they will. you see china crackdown on initial coin offerings last year. south korea has been going back-and-forth on banning all trading across the board. the sec in the u.s. is issuing dozens of subpoenas to initial coin offerings which signals crackdown. in the u.k., it's been a watchful approach. they say they are aware of this and i see the potential, but we are not going to run in with any decisive measures until we understand the ramifications of the technology. that is clearly what nicky morgan is doing now. saying we are going to bring everything together. nejra: have we se

it was welcomed by both wings. that it was welcomed by both wings. nit—pick, and remainers like nicky morgan. saying, it's more of the same cherry picking which won't work. picking which won't work. a vindication of the approach she took. took. got a knife to the throat of the prime minister. rather colourful language. language. colourful language used by both sides to make their points. sides to make their points. worried that michael had a tyne has a problem with her speech. a problem with her speech. said he would probably prefer a corbyn government to brexit. corbyn government to brexit. because there were parts for both sides of her party. sides of her party. michael had time to land complaints that hold much merit. that hold much merit. borisjohnson in a new dirty tricks row. row. northern ireland, despite claims that they definitely wouldn't be. that they definitely wouldn't be. let's not over a git. press secretaries for leaking the story to get up boris johnson. story to get up boris johnson. think a lot of people are just thinking, get on with it. thinking, get on with it. on ourse

and then on the other side you have the remainer is, so people like nicky morgan being positive aboutgh with a caveat saying that she will watch out for any drifting backwards. and also suggesting, hinting that she might withdraw her support for an amendment to the trade bill which was all about basically trying to include the customs union in any future trade bill. so you have got that kind of movement, but then on labour's side, they are critical, we have heard from peter mandelson today, he spoke to the andrew marr show, saying that this was all based on leaps of faith, the one leap of faith being that the european union would agree to theresa may cherry picking, and the other leap of faith being that the european union would agree to this idea of mutual recognition rather than alignment on theissue recognition rather than alignment on the issue for example talking about the issue for example talking about the financial sector. the prime minister has said she wants mutual recognition on that because she is not going to be in a situation where british companies here in the city woul

with me now from the houses of parliament is the former conservative cabinet minister nicky morgan —at do you make of the exchange between philip hammond and donald tusk? what it shows is that we are at the start ofa it shows is that we are at the start of a set of negotiations and there is a difference of opinion, not very surprising. and of course we had not seen surprising. and of course we had not seen financial services as part of a major free trade agreement butjust because we have not so far does not mean it cannot be done. we are in a different position because the uk and eu rules on financial services are currently aligned. so there been pulled apart but i hear what donald tuskis pulled apart but i hear what donald tusk is saying about whether it is in the interests of the eu. and also i think london provides a huge amount of money for the rest of europe. we have very deep liquid capital markets and that provides great and if it to many european companies. so i suspect there is a deal to be done. let‘s see where we get to. but the kind of shape of deal that philip hammond se

we have in the conservative party people like anna soubry, nicky morgan and kenneth clarke, arch remainersnt views, it has always been that case when it comes to the european union. in this referendum it was and in the 11975 when we first went in. different views on europe and the eu in particular are not unusual. he is entitled to express and campaign for his views but what he is not entitled to do is acce pt but what he is not entitled to do is accept a job at the top of the labour party and then go and do his own thing as opposed to stick with the team view. if you take a position, you have collective responsibility, that has always been the case and it is rightly so that it is the case. do you think now go on the backbenches, he could cause more difficulty for mr corbyn than if mr corbyn had kept him in the shadow cabinet? no. ithink if mr corbyn had kept him in the shadow cabinet? no. i think what is important is that mr corbyn, that the labour party keeps listening to the labour party keeps listening to the country. the country has not changed its mind on the referendum. that was fai

when they see the coverage today and they see the reaction from people like jacob rees mogg and nicky morganas a big moment for theresa may, the third of her three big speeches so far that she has been using to set out her vision for brexit. and there were three audiences. 0ne brexit. and there were three audiences. one is the public, the second, those eu leaders that she is negotiating with, the third and arguably politically the most important, her own mps, who are bitterly divided over what wrecks it should look like. her message was that brexit should mean a clean breakfrom that brexit should mean a clean break from the single market and the customs union, but beyond that she wa nts customs union, but beyond that she wants as close relationship with the european union. there is a question of whether it eu leaders will get on board with that but as far as her own ranks are concerned, it seems to have been a success. cautious welcome is but positive from brexit and remain mps. jacob rees mogg said that while some may have concerns andi that while some may have concerns and i was at the tim

. >> nicky morgan. >> and your 100% support the prime minister's statements and actions she's taken and just on the last question, i want to particularly pick up on the prime minister's statement there is no place for serious criminals and construct elites in our country. there are members and i'm sure that the parliament will-- but the select committees could have a real role here in teasing out information, what is going on to help to tackle dirty money in this country, whether in the city of london or elsewhere, to bring evidence of the amendment actions that the government could then take. >> can i thank my right honorable friend for her suggestion. can i say, indeed, i recognize the role shekt -- select committees can say and i expect that she's set off with committees to undertake. >> bradshaw. >> can i say that most on the benches fully support the measures. and indeed, some of us think they could have come sooner. on the event of putin, to investigate putin's influencing operations in our universities, in our think tanks ap our institutions and in our political parties. >> can i

economy with nicky morgan, former treasury

. >> nicky morgan. >> and your 100% support the prime minister's statements and actions she's taken and just on the last question, i want to particularly pick up on the prime minister's statement there is no place for serious criminals and construct elites in our country. there are members and i'm sure that the parliament will-- but the select committees could have a real role here in teasing out information, what is going on to help to tackle dirty money in this country, whether in the city of london or elsewhere, to bring evidence of the amendment actions that the government could then take. >> can i thank my right honorable friend for her suggestion. can i say, indeed, i recognize the role shekt -- select committees can say and i expect that she's set off with committees to undertake. >> bradshaw. >> can i say that most on the benches fully support the measures. and indeed, some of us think they could have come sooner. on the event of putin, to investigate putin's influencing operations in our universities, in our think tanks ap our institutions and in our political parties. >> can i