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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.
AUSTRIA
Former Chancellor Sebastian Kurz has been charged with making false statements to a parliamentary inquiry into the 'Ibiza affair' scandal. CNN: "The prosecutors in Vienna allege that Kurz gave false evidence to a committee of the Austrian parliament that was investigating whether his government was open to bribes and corruption. Specifically, the prosecutors say he gave false evidence when asked about executive appointment to the board of Austria’s sovereign wealth fund, the state holding company Öbag."
- The fallout from Kurz corruption investigation has dogged the incumbent centre-right Austrian People's Party (ÖVP) since 2021, with opinion polling showing the party in a battle for second place with the main opposition centre-left Social Democrats (SPÖ).
- The right-wing nationalist Freedom Party of Austria (FPÖ) maintains its comfortable lead atop national opinion polls, averaging 29% support in July and August compared to 23% apiece for the SPÖ and ÖVP.
- While the Kurz trial, starting 18 October, will not have any direct impact on Austria's day-to-day political environment it is likely to dominate headlines going into 2024, an election year.
- Should current polls be reflected in the election it would open the prospect of the FPÖ leading a coalition with the ÖVP as a junior partner. While the FPÖ has sat as a junior partner in gov't on several occasions, it has never led the coalition. A win for the FPÖ would see Austria join a growing stable of EU member states (Italy, Finland, Sweden, Hungary, Poland) with right-wing parties either directly involved in, or propping up, governments .
Chart 1. Federal Election Opinion Polling, % and 5-Poll Moving Average
Source: Market-Lazarsfeld, INSA, OGM, Peter Hajek, Unique Research, IFDD, Market, 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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