UPDATE 1-UK's Labour has 'bottom line' for supporting Brexit vote -Corbyn

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LONDON The head of Britain's opposition Labour Party will try to block divorce talks with the European Union if the government does not agree to Labour's Brexit demands, potentially leading to an early national election, a newspaper said on Saturday.

Jeremy Corbyn told the Sunday Mirror that Labour's "Brexit bottom line" would require guarantees for access to the EU's single market for exporters, continued protection of workers' rights, safeguards for consumers and the environment and pledges that Britain would make up any loss of EU capital investment.

England's High Court dealt Prime Minister Theresa May a setback on Thursday when it ruled that the decision to begin formal talks about leaving the EU needed to be approved by parliament.

The government has said it will appeal the decision but should it have to hold the vote, the ruling Conservative Party may struggle to get the majority it needs because some of its own members have concerns about the terms of Brexit.

"We are not challenging the referendum. We are not calling for a second referendum," Corbyn told the Sunday Mirror. "We're calling for market access for British industry to Europe."

May told other EU leaders on Friday she believed the court ruling would be overturned and said she would stick to her timetable of starting the Brexit negotiations before the end of March.

The Labour Party supported the "Remain" campaign ahead of the June 23 referendum.

In his interview with the Sunday Mirror, Corbyn said he was looking forward to the possibility of an election before the next scheduled national poll in 2020.

"If the government calls an election we're ready for it," he said. "We have the members, the organization and the enthusiasm. We welcome the challenge."

Separately on Saturday, another newspaper quoted May as saying there would be no going back on the government's Brexit plan, despite the setback in the High Court and calling on pro-EU lawmakers and judges to accept the outcome of the referendum.

"Instead of re-fighting the battles of the past, we should be focusing on how we can come together as a country to make the most of this great national opportunity and forge a bold, confident, global future for Britain," May wrote in the Sunday Telegraph. Thanks.

MILAN Oct 23 Italy's Economy Minister Said

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MILAN Oct 23 Italy's economy minister said on Sunday the European Union must choose between allowing Rome to raise its deficit to cope with a recent earthquake and the migrant crisis, or the "Hungarian way" of putting up barriers, which he said would spell doom for the bloc.

"Europe must choose which side to take. They can accept the fact that our deficit goes up from 2 percent to 2.3 percent (of gross domestic product) to tackle the earthquake and the migrant emergencies," Pier Carlo Padoan told la Repubblica daily in an interview.

"Or they can choose the Hungarian way, which puts up walls against the migrants and must be rejected. That would be the beginning of the end."

The Italian government has been stepping up an anti-Brussels rhetoric after unveiling an expansionary 2017 budget plan last week ahead of a referendum on constitutional reform that may decide Prime Minister Matteo Renzi's political future.

The budget hiked previously agreed targets for the budget deficit and the public debt, with Rome insisting it needs fiscal leeway to deal with the migrant crisis on its Mediterranean borders and reconstruction after a huge earthquake in August.

The European Commission has numerous concerns about the plan and is considering sending Rome a warning letter, officials have said.

In a further blow for the government, Fitch Ratings agency cut its outlook for Italy on Friday, saying weak growth, high debt and the uncertain outcome of the Dec. 4 referendum posed risks to the euro zone's third-largest economy. Fitch said Italy's track record of "repeated delay and back-loading of fiscal consolidation reduces credibility."

Padoan said Italy had spent more money than any other European state to deal with the inflow of migrants and refugees.

"So far no one has recognised our financial commitment ... It's a political problem, that concerns the future of the continent," he said.

Renzi was even more defiant on Friday, saying he will not be swayed by the EU and will not change the budget law. "We want to address the needs of Italian citizens, not Brussels technocracy," he said.

Opinion polls suggest Renzi may lose the referendum on his plan to reduce the role of the Senate and centralise decision making. But he has packed the budget with potentially vote-winning measures.


MILAN, Oct 23 Storage rooms crammed with loan documents have emerged as a hidden front line in Italy's battle to save its banks from the threat of financial crisis.

 LONDON, Oct 23 Britain could slash corporation tax to 10 percent if the European Union refuses to agree a post-Brexit free trade deal or blocks UK-based banks from accessing its market, the Sunday Times reported, citing an unidentified source. Thanks.