23 Jul 2013
Flash: Political flashpoints in Europe – BBH
FXstreet.com (London) - BBH Global Currency Strategy Team Marc Chandler summarised political developments in Europe.
Key Quotes:
“Portugal’s government looked as if it was about to break down as its austerity program takes a larger toll on public support and tests PM Coelho’s coalition. After the cross-party unity platform failed, the president endorsed the government in a move that appears to put closure around this mini-political crisis”.
“Greek PM Samaras is in the middle of a difficult push for further austerity measures, which included cuts to thousand of public-sector jobs narrowly approved last week”.
“Spanish PM Rajoy is confronting allegations about a slush fund that helped fund his Popular Party through illegal donations”.
“In Italy, it appears as if the government may have reached a compromise on the controversial real estate tax that the Monti government had approved”.
“Meanwhile, Germany is gearing up for a crucial election on September 22, but Merkel is still expected to perform well, even if through another grand coalition”.
Key Quotes:
“Portugal’s government looked as if it was about to break down as its austerity program takes a larger toll on public support and tests PM Coelho’s coalition. After the cross-party unity platform failed, the president endorsed the government in a move that appears to put closure around this mini-political crisis”.
“Greek PM Samaras is in the middle of a difficult push for further austerity measures, which included cuts to thousand of public-sector jobs narrowly approved last week”.
“Spanish PM Rajoy is confronting allegations about a slush fund that helped fund his Popular Party through illegal donations”.
“In Italy, it appears as if the government may have reached a compromise on the controversial real estate tax that the Monti government had approved”.
“Meanwhile, Germany is gearing up for a crucial election on September 22, but Merkel is still expected to perform well, even if through another grand coalition”.