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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.
EUROPEAN PARLIAMENT
Following on from the creation of the right-wing nationalist Patriots for Europe group in the European Parliament on 8 July, a number of previously unaligned parties from the far-right look set to formalise what would be the eighth political group in the EP. Tomio Okamura, chair of the Czech Freedom and Direct Democracy (SPD), has said that the 'Europe of Soveriegn Nations' will be officially announced on 10 July.
- Czech outlet Seznam Zprávy reports Okamura saying that the Alternative for Germany (AfD) will be a co-founder of the group alongside the SPD. Some of the parties come from the now-defunct Identity and Democracy group that has split into the right-wing nationalist Patriots for Europe and now seemingly the far-right Sovereign Nations group.
- Jorge Liboreiro at Euronews posts on X the rumoured composition of the group: Alternative for Germany (AfD): 15 (MEPs), Poland's Confederation: 6, Spain's 'The Party is Over' (SALF): 3, Bulgaria's Revival: 3, Romania's SOS România: 2, Czechia's SPD: 1, Greece's NIKI: 1, and France's Reconquête: 1. Total: 32 MEPs
- If formed the Europe of Sovereign Nations would sit as the smallest official political group and would play no part in policy-making, with moderate groups likely to maintain a cordon sanitaire around the group. Nevertheless, its establishment would entitle it to greater EU funding and committee positions.
Chart 1. Prospective European Parliament Groupings w. Europe of Sovereign Nations
Source: European Parliament, Euronews. 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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