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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.
EU
Polish Prime Minister Mateusz Morawiecki has stated that the EU could 'ultimately fall apart' over the rule-of-law provisions attached to the bloc's long-term budget that spurred the Polish and Hungarian gov'ts to effectively veto the progress of the budget earlier in the week.
- Earlier today Hungarian PM Viktor Orban issued a statement (see below) on the veto, saying that, "Once this proposal gets adopted, there will be no more obstacles to tying member states' share of common funds to supporting migration and use financial means to blackmail countries which oppose migration."
Source: Hungarian Government
- The gov't of Slovenia has also issued support to both countries, with PM Janesz Jansa sending a letter to all other EU member state leaders, saying that the rule of law mechanism 'undermines' the COVID-19 recovery fund agreement, stating that "Neglecting our historical agreement reached at July EUCO is like quarrelling over a menu on a ship sailing towards an iceberg."
- No sign of either Hungary and Poland, nor countries committed to the rule of law provisions such as the Netherlands, backing down over this. Could delay multiannual financial framework and COVID-19 recovery fund indefinitely.
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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