Trial now

Clears The 50-Day EMA


Reverse Repo -- New Record High


Equities Bouncing


Remains Under Pressure

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The Finnish Parliament has approved the EU's proposed long-term budget and the Own Resources decision that will allow the Commission to issue debt by the required two-thirds majority to allow for a plan for funding to be submitted to Brussels.

  • The Own Resources decision was approved by a margin of 134-57, crossing the two-thirds of voting members hurdle by just seven votes. Given that the decision has to be ratified by every member state parliament in the same form, this extremely tight vote could have spelled disaster for the EU's attempt at delivering the planned EUR750bn COVID-19 recovery and resilience fund.
  • The five parties that form the centre-left government of PM Sanna Marin all voted in favour of the Own Resources decision. The deciding factor was the opposition centre-right National Coalition Party. Of their 38 members, 28 voted in favour, two abstained, and 10 voted against the decision.
  • Following the Finns approval, the only countries yet to approve the decision are Hungary, Poland, Austria, Romania and the Netherlands.
  • The Dutch Senate is due to debate the Own Resources decision today.