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PM Morawiecki Loses Confidence Vote, Tusk Set To Take Over
The gov't of PM Mateusz Morawiecki has, as expected (see 0805GMT bullet), lost a confidence vote in the lower house of parliament (Sejm) setting the stage for the right-wing Law and Justice Party (PiS) to leave office after eight years in power. In the event, 190 lawmakers vote in favour of the Morawiecki gov't, with 266 against. This sets the stage for former PM and President of the European Council Donald Tusk to return to office at the head of a broad alliance later in the week. One of Tusk's first actions will be to head to Brussels for the crucial EUCO summit taking place 14-15 Dec.
- Tusk, who served as PM from 2007-14, leads the centrist Civic Coalition (KO), which will govern alongside the centre-right 'Third Way' and social democratic 'The Left'. While ousting the PiS gov't formed a strong unity between the groups ahead of the October general election, it remains to be seen how united the disparate parties can remain once the Tusk gov't comes to power.
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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.