Trial now
SILVER TECHS

Bullish Price Structure Intact

GERMAN DATA

German Mar Factory Orders Beat Expectations

GOLD TECHS

Bullish Focus

WTI TECHS

(M1) Needle Still Points North

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Confirmed that Prime Minister Mark Rutte, less than a month after seemingly securing a record-breaking fourth term in office, will face a vote of no confidence in the House of Representatives later today that could pose a threat to the continuation of his lengthy tenure.

  • See 1238BST (0738ET, 1338CET) bullet for full details of the 'verkennersgate' scandal that has led to the vote.
  • In a parliamentary debate on the scandal, Rutte said "I did not lie, I acted honourably and in good conscience" regarding alleged attempts to sideline a CDA member of parliament - Pieter Omtzigt - who had been instrumental in revealing a child benefits scandal that led to the resignation of Rutte's previous gov't before the 15-17 March election.
  • During the debate in parliament regarding Rutte's alleged actions, head of the liberal Democrats 66 Sigrid Kaag directly asked Rutte 'How can this happen, and how can you, as possibly the longest serving prime minister, win back confidence?' Given that D66 were seen as the most likely party to prop up Rutte's party in a coalition gov't, this direct attack on the PM could see momentum gained for an attempt to remove him as head of the centre-right VVD.
  • Should Rutte be forced from office it would mark the end of a tenure where he came to be known as 'Teflon Mark' for being able to brush off any apparent criticism or scandal.
  • At an EU level, the defenestration of Rutte would see the 'frugal four' group of nations opposed to greater EU spending and fiscal transfers lose its most experienced leader and effective communicator.