Opening Bell: Triggering Article 50, Ireland's construction surge, Iceland's fresh start

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Britain's road to Brexit is set to pass a significant milestone today with the parliament in London expected to grant the Prime Minister the legal right to trigger EU exit negotiations.

This will give PM Theresa May the power to begin the UK's process of leaving the UK.

She could do so as soon as tomorrow, Sky News reports that there is a 50/50 chance that she will trigger Article 50 before the end of this week, based on comments from Government sources.

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Iceland is set to leave its financial crisis behind today as capital controls affecting households, businesses, and pension funds will be lifted.

"The removal of the capital controls, which stabilised the currency and economy during the country’s unprecedented financial crash, represents the completion of Iceland’s return to international financial markets," its finance ministry said in a statement.

These measures were introduced under the guidance of the IMF in 2008.

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Ireland's construction industry experienced strong expansion last month according to the Ulster Bank Construction Purchasing Managers’ Index.

The index rose to 57.9 in February - that's up from 55.7 in January.

Job creation expansion remained at a near-record pace and new orders also accelerated.

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More than 650 flights sheduled from Berlin's two main airports are set to be cancelled today as ground staff begin a 25 hour strike.

Similar action affected 700 flights on Friday and ground staff have also staged a number of walkouts during this pay dispute.

Unions have rejected offers from management which fell short of its pay demands. Most of the ground staff are paid close to €11 per hour and are seeking a €1 increase.

 

Additional reporting by IRN report