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Free AccessSchmit Heads PES Race For Lead Candidate Nom. As Gentiloni Rules Himself Out
Luxembourger European Commissioner for Jobs and Social Rights Nicolas Schmit leads the race to serve as the lead candidate (spitzenkandidat) for the centre-left Party of European Socialists (PES) ahead of the June European Parliament elections. At present, Schmit's name is the only one that has been put forward among potential PES candidates, with Economy Commissioner and former Italian PM Paolo Gentiloni sayingthat he would neither be running for a European Parliament seat nor seeking the Commission president's job.
- Schmit and Gentiloni face being removed from their Commission positions following the elections, with both of their parties (the Luxembourg Socialist Workers' Party and Democratic Party respectively) now sitting in opposition in their home countries.
- Prospective candidates for the PES, sitting as the Progressive Alliance of Socialists and Democrats (S&D) group in the European Parliament, have until 18 Jan to confirm their runs. The final decision will come at the PES congress in Rome on 2 March.
- The centre-right European People's Party (EPP) of incumbent Commission President Ursula von der Leyen makes its decision on a lead candidate at its conference in Bucharest on 6-7 March. At present, VdL has yet to confirm her intention to seek a second term.
- With the conservative European Conservatives and Reformists and right-wing nationalist Identity & Democracy groups set to increase their seats, the selection of 'lead candidates' could prove moot amid expected horse-trading. Indeed, VdL came as a late compromise candidate in 2019 after other groups rejected the EPP's initial lead candidate Manfred Weber.
To read the full story
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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.