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CEE
Estonian Prime Minister Kaja Kallas looks set to remain in office following a strong result for her centre-right liberal Reform Party in the 5 March legislative election. While Estonia is one of the smallest economies in the eurozone, it has had an outsized political importance over the past 12 months as one of the most vocal Russia hawks in the alliance backing tougher sanctions against Moscow and greater military and financial support for Kyiv.
- Kallas' Reform won its highest-ever number of representatives, with 37 of the 101 seats in the Riigikogu (parliament), up three from the previous parliament. Its coalition allies both lost seats, with the centre-left Social Democrats down from 10 to nine, and the centre-right Isamaa (Fatherland) down from 12 to eight. This coalition would still command a majority, but Kallas might find the liberal centrist Estonia 200, which entered parliament with 14 seats, a more ideologically-comfortable coalition partner.
- The main opposition parties - the right-wing nationalist Conservative People's Party of Estonia (EKRE) and the centre-left populist Centre Party (KE) - both suffered losses. EKRE won 17 seats, down two, while the Centre Party won 16 seats, a loss of 10 and the joint-worst result since the party first contested an election under its current name in 1995. Kallas has confirmed she will not work with the EKRE in gov't.
Chart 1. Result of March 5 Election, Seats
Source: National Electoral Committee, 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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