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MNI US Macro Weekly: Politics To The Fore
Scholz: EU Will Not Be Divided By Russia
German Chancellor Olaf Scholz has just finished speaking to a plenary session of the Bundestag in his first gov't statement as chancellor. Issues a number of comments regarding the EU and the broader European security situation.
- Says that the EU 'will not be divided by Russia'. Says that he wants discussions with Russia 'when feasible'. Adds that 'border violations will carry a heavy price'.
- Says that all EU member states are committed to the rule of law, and that Germany stands with the EU on that issue.
- On Germany's stance towards China: "We have to align our China policy with the China that we really find."
- Says that unanimity rules at the European Council level should be removed, "Qualified majority votes have to become the rule." On issues such as foreign policy decisions or decisions on whether to censure member state gov'ts, unanimity is required to go ahead. Should Germany formally come out in favour of QMV across the board it could lead to a major backlash from smaller member states, arguing that their voices would be drowned out by the larger nations.
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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.