MNI BRIEF: China FX Reserves Up 1.1% Since June

MNI BRIEF: China Iron-Ore Imports Up In July

MNI: PBOC Net Drains CNY251.67 Bln via OMO Wednesday

CHINA PBOC SKIPS OPEN MARKET OPERATIONS WED

MNI: PBOC Sets Yuan Parity Higher At 7.1386; +0.63% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1386 WED VS 7.1318

MNI: GERMANY JUN IND PROD +1.4% M/M

MNI: GERMANY JUN IND PROD +1.4% M/M

MNI: GERMANY JUN EXPORTS -3.4% M/M; IMPORTS +0.3% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Possible 'National Emergency Gov't' Faces Its Own Hurdles

FRANCE
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsPolitical Market News

Media speculation surrounding potential candidates to become head of a 'national emergency gov't' has circled in recent days, with figures from the centre-right of French politics potentially in the frame. While there is unlikely to be any significant movement on the political front in August, with the National Assembly on its summer break until 2 September at the earliest, behind-the-scenes negotiations could take place between senior figures from various parties over the coming weeks.

  • President of the Regional Council of Hauts-de-France Xavier Bertrand, former minister and European Commissioner Michel Barnier, and Senate President Gerard Larcher [all hailing from the centre-right Les Republicains (LR) ] have been spoken of by Gender Equality Minister Aurore Berge as figures who could lead a broad gov't.
  • The leftist New Popular Front (NFP)'s candidate for PM, Parisian civil servant Lucie Castets, has said that the appointment of a figure such as Bertrand "is, from a democratic point of view, an aberration," given that the NFP is the largest bloc with 182 of 577 seats compared to just 46 for LR.
  • Macron has already rejected Castets for the PM position, claiming she cannot command a majority in the National Assembly. However, a Bertrand administration would also face difficulty in avoiding censure motions from the right-wing nationalist Rassemblement National. Heading the regional gov't in France's northeast, Bertrand has been a major bulwark against the RN in one of its core regions and as such has earned a position as one of RN's most detested political opponents.
248 words

To read the full story

Close

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.

Media speculation surrounding potential candidates to become head of a 'national emergency gov't' has circled in recent days, with figures from the centre-right of French politics potentially in the frame. While there is unlikely to be any significant movement on the political front in August, with the National Assembly on its summer break until 2 September at the earliest, behind-the-scenes negotiations could take place between senior figures from various parties over the coming weeks.

  • President of the Regional Council of Hauts-de-France Xavier Bertrand, former minister and European Commissioner Michel Barnier, and Senate President Gerard Larcher [all hailing from the centre-right Les Republicains (LR) ] have been spoken of by Gender Equality Minister Aurore Berge as figures who could lead a broad gov't.
  • The leftist New Popular Front (NFP)'s candidate for PM, Parisian civil servant Lucie Castets, has said that the appointment of a figure such as Bertrand "is, from a democratic point of view, an aberration," given that the NFP is the largest bloc with 182 of 577 seats compared to just 46 for LR.
  • Macron has already rejected Castets for the PM position, claiming she cannot command a majority in the National Assembly. However, a Bertrand administration would also face difficulty in avoiding censure motions from the right-wing nationalist Rassemblement National. Heading the regional gov't in France's northeast, Bertrand has been a major bulwark against the RN in one of its core regions and as such has earned a position as one of RN's most detested political opponents.