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Free AccessSummit To Get Underway As Meloni Stance On VdL Eyed
European Union leaders meet in Brussels from 1230CET (0630ET, 1130BST) today for a Council meeting in which the sign-off on nominating individuals for key EU portfolios is set to be provided. The nomination of Ursula von der Leyen for a second term as European Commission president is a given, but focus will be on the level of opposition.
- Hungarian PM Viktor Orban is seen as likely to vote against her, while Italian PM Giorgia Meloni is seen as a likely backer of VdL (see 'MNI: Meloni To Back Von Der Leyen In EU Commission Deal-Source', 24 June). There are some last-minute jitters that Meloni could instead abstain due to perceptions of the top EU jobs being decided without taking the EU election results into account.
- The conservative European Conservative and Reformist (ECR) group that Meloni presides over is now the third-largest in the European Parliament, but the senior Foreign Affairs position is set to go to Estonian PM Kaja Kallas from the liberal Renew Europe, now in fourth place.
- Meloni's address to the Italian parliament on 26 June, in which she called the EU "an invasive bureaucratic giant", can be seen as being pitched to a domestic audience. The Italian PM finds herself in a position of significant leverage, and as such could simply be seeking a senior Commission role for Italy.
- Only a qualified majority (55% of member states representing 65% of EU population) is required to put VdL forward to the EP for a confirmatory vote (likely 18 July).
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.