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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 COMMISSION
MEPs are currently voting on whether to approve Commission President Ursula von der Leyen for a second five-year term in office. The result is expected at around 1430CET (0830ET, 1330BST). The process takes longer than normal votes in the EP as it is conducted in secret with paper ballots, rather than the usual electronic voting in which MEPs votes are recorded.
- With the backing of the centre-right European People's Party (EPP), the centre-left Progressive Alliance of Socialists and Democrats (S&D), the liberal Renew Europe (RE) and now the environmentalist Greens-European Free Alliance (G-EFA) (see 'EU COMMISSION: Greens To Back VdL In Presidency Vote' 1159BST) the German former defence minister has a strong chance to secure the required majority.
- Euronews reports that around 10 MEPs from RE will defy the whip to vote against VdL (Ireland Fianna Fail over her Gaza stance, Germany's FDP). This is unlikely to be enough to derail her re-election prospects.
- The S&D have officially backed VdL, but as was the case in 2019 a number of its MEPs are likely to defy the whip and vote against, aided by the secret ballot system. As with RE, this is unlikely to be enough to deny VdL a majority.
Chart 1. European Parliament by Political Groups
Source: European Parliament. N.b. Non-inscrits in grey - 33 seats.
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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