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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
LUXEMBOURG
Former Finance Minister Luc Frieden, head of the Christian Social People's Party (CSV) was asked by Grand Duke Henri to look to form a gov't on the evening of 9 Oct following the legislative elections the day before that saw the incumbent tripartite coalition of PM Xavier Bettel lose its majority. The CSV, which governed in coalition from 1979 to 2013, remained the largest party in the 60-member Chamber of Deputies, keeping its seat total at 21.
- Bettel's centrist Democratic Party (DP) won 14 seats, an increase of two. Its coalition allies, the centre-left Luxembourg Socialist Workers' Party (LSAP), also increased its seat total from 10 to 11. However, the environmentalist Greens saw its seat total fall from nine to four, resulting in the coalition holding just 29 seats.
- Frieden will have to find coalition allies, most likely with Bettel's DP. For his part, Bettel stated that he was “ready to take responsibilities in the future government with Luc Frieden as prime minister.” The CSV head also stated that he was open to a coalition with the LSAP.
- With the gov't set to include a combination of either the LSAP or DP with the CSV, there is little chance of any notable shift in Luxembourg's policies in relation to the EU, with all supporting close ties to Brussels. The only somewhat eurosceptic parties (the far-left The Left, and right-wing Alternative Democratic Reform Party (ADR)) will not be included in coalition talks.
Chart 1. 2023 General Election Results, Seats
Source: elections.public.lu, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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