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Free AccessMNI SOURCES: EU Vote Results Muddy Outlook For Top Jobs Split
--Paris-Berlin Tensions Could See Compromise Candidates Emerge
By David Thomas
BRUSSELS (MNI) - Germany and France may struggle to broker a deal to carve
up the most senior European Union job openings, with a political, geographic and
gender-balancing compromise package the most likely solution, senior officials
have told MNI.
EU leaders meet Tuesday in the wake of the weekend's European Parliament
elections to discuss how a split of top jobs, including the European Commission
and European Central Bank presidencies, might work, although it is unclear if
the leaders will try and put actual names to the various roles this early in the
process.
For starters, leaders will need to try and work out if the
'Spitzenkandidat' system -- whereby the biggest party names its candidate for EC
president -- can work this time round.
"The election result is clearly pro-European but split in four, so
difficult for any 'Spitzen' to be the obvious candidate," one EU official said,
noting a compromise package was needed.
--PARIS-BERLIN TENSION
All this means that the idea of a straight Franco-German deal splitting the
Commission for the ECB presidencies may not be so easy, sources say.
If German Chancellor Angela Merkel proposes official EPP candidate Manfred
Weber for the EC presidency, sources believe French President Emmanuel Macron
could well block him, which in turn could see Merkel block a Macron Choice of
chief EU Brexit Negotiator Michel Barnier.
Any compromise deal under which Barnier gets the Commission and Bundesbank
President Jens Weidmann went to the Bundesbank would "look pre-scripted and a
betrayal" of the EPP, a further source said, with other officials noting current
Franco-German tensions do not favour such a cozy carve-up.
With the Liberal ALDE-ELDR and maybe the Greens likely involved in putting
the package of senior jobs together, the possibility increases that a candidate
from a smaller country could get one of the top jobs, sources said.
--NORDIC STRAND
Denmark's Margrethe Vestager, who currently holds the Competition brief,
could therefore be a strong candidate for the EC Presidency. That would have
implications for who gets to win the ECB.
"If small countries get jobs, the Germans could go for a 'proxy' like Olli
Rehn," said one official.
"While that might look a bit Nordic, someone from an Eastern European
country could be named for the Council presidency and maybe a southern candidate
for the High Representative (for Foreign Affairs)," he added.
Former Spanish Prime Minister Jose Zapatero and Portuguese Prime Minister
Antonio Costa have also been mooted for the EU presidency, although Costa is
apparently less than eager to leave his country, given pending elections there.
In the course of putting this puzzle together, one official said he
expected "some new names" to crop up.
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$E$$$,M$X$$$,MC$$$$,MT$$$$,MX$$$$,MFX$$$,MGX$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.