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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.
SLOVAKIA
Today, Prime Minister Igor Matovic and Finance Minister Eduard Heger are due to swap roles after a vaccine scandal sparked ministerial resignations and the withdrawal of one party from the governing coalition.
- The scandal erupted earlier in March when it emerged that the PM had gone behind Cabinet colleagues backs to secure 2mn doses of the Russian Sputnik V COVID-19 vaccine, even though the jab does not yet have approval from the EMA.
- Six ministers resigned, demanding Matovic step down, while the libertarian Freedom and Solidarity (SaS) withdrew its 13 deputies from the governing coalition. At present it is not clear whether SaS will rejoin the gov't with Matovic having left office.
- Even without SaS, the gov't still commands a majority in the National Council, with 80 seats compared to a combined 70 seats for the opposition.
- The incoming PM Heger hails from the same conservative populist Ordinary People party (OL'aNO) as Matovic, and a major shift in policy direction is unlikely, although the governing style may be different. Heger is a trained economist and seen as a political moderate with an unflustered tone. Matovic on the other hand was viewed as a more forceful and aggressive politician, which endeared him to his supporters but made others uncomfortable. Whether Heger can govern effectively in the long term with the outspoken Matovic in the finance ministry remains to be seen.
Chart 1. Slovakian National Council, Seats
Source: National Council, 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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