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New PM Could Be In Place By 9 April; Science Min Harris Early Favourite
Following the announcement by Taoiseach (PM) Leo Varadkar that he intends to resign his office and as leader of the centre-right Fine Gael party, attention will now inevitably turn to who will succeed him. Fine Gael will elect its new leader ahead of the Ard Fheis (party conference) on Saturday 6 April. After that, the Dáil (the lower chamber of the Irish parliament) will have to approve the new taoiseach in a vote. This means a new head of gov't could be in place as soon as 9 April.
- Under party rules, in order to make the ballot prospective candidates require the support of 10% of Fine Gael lawmakers within a week of the announcement of the vacancy. This equates to the backing of 10 TDs or senators.
- The Journal reports: "...party leaders are elected via an Electoral College system, consisting of the Parliamentary Party (TDs, Senators and MEPs), public representatives (councillors), and any other party members. A voting weight is attached to each grouping, which goes as follows: Parliamentary party 65%, Party membership 25%, Councillors 10%."
- Irish betting website PaddyPower makes Minister for Further and Higher Education, Research, Innovation and Science Simon Harris the clear favourite with an 83.3% implied probability (odds of 1/5) of winning the leadership. FG Deputy leader Simon Coveney and Eurogroup President Paschal Donohoe are in joint second place with a 12.5% implied probability (odds of 7/1) each.
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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.