This is CBS, I Am The World. I'm John Bachelors to Europe, to the United Kingdom, to

positive, very, very promising headlines. Bloomberg, JP Morgan is first bang to predict

UK will avoid recession. London Times, Brexit deal, Rishi Sunak tells DUP, no changes

to framework as it happened. Unionists claim EU agreement may not need reworking. Both

these headlines require interpretation and Joseph Sternberg is here to help me. Joseph

London for the journal, but at the same time, he is the one man I know in all my years

of talking who can actually encapsulate both Brexit, the Tory Conservative domination of

Parliament and the question of recession. He can put them all together. Joe, are these

separate silos, Rishi is having a good day. They make a deal with the European Union about

our Northern Ireland and they're not, they're going to avoid recession. Says JP Morgan,

is that an accident? Well, the two are sort of related because certainly,

a lingering Brexit uncertainty has been a big drag on the UK economy. And so the deal

that Rishi Sunak and the European Union announced this week hopefully will do a lot to alleviate

the uncertainty and start allowing a bit more trade and investment to flow. I think

that part of the picture with the UK economy writ largest that no one can tell how pessimistic

or optimistic to be right now, you're basically throwing spaghetti at the wall and seeing what

will stick in terms of your forecasts. Because this is such an unusual environment, you've had

the trade uncertainty from Brexit. You've had a lot of political and regulatory uncertainty,

which might now be starting to settle down a little bit. But you've also had this inflationary

problem and a lot of uncertainty about what the policy response to that is going to be

in the effects that it will have. So in that sense, it's probably not surprising that people

have no idea what the future is holding at this point because they keep struggling to absorb

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