PM May resignation and European elections outcome could precipitate several local snap elections while trade war tensions still looming

AXA
Door mei 27, 2019 14:58

PM May resignation and European elections outcome could precipitate several local snap elections while trade war tensions still looming

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European elections see relatively high turnout and fragmentation. Turnout surprised on the upside, at its highest in 20 years (50.5% versus 43% in 2014), suggesting that most Europeans are still interested in politics and Europe. The two historical formations – Social democrats (SD) and European Popular Party (EPP) – have lost their majority. SD obtained 150 seats (-41 vs 2014) while the EPP got 177 seats (-42) with weaker results in Spain, Italy and Germany. These lost seats largely benefited the populist and nationalist parties, but also to the Liberals (ALDE) and the Greens which made a historical breakthrough with respectively 108 and 77 seats. Far-right “Europe of Nations and Freedom” led by the Rassemblement National in France and Lega in Italy could gather approximately 172 seats (+17 vs 2014) and, given the Parliament’s fragmentation, becomes the second political force. As we outlined in a recent paper (“European Parliament elections:

AXA
Door mei 27, 2019 14:58

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Currencies: Us Dollar Bar For Us Fx Intervention Remains High -> https://t.co/2ny01nTS55 #currency #China #tradewar via @PictetWM @PictetAM_NL

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