Back
27 Feb 2014
Flash: European official statements loom large - BBH
FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman said, "In Europe, where new economic developments are light, official statements loom large".
Key Quotes
"First, the German Constitutional Court ruled, in a 5-3 vote, that the 3% threshold for German parties to enter the EU parliament (election in May) is unconstitutional."
"Previously, it had ruled that a 5% threshold was unconstitutional and the Bundestag lowered it to 3%. Today's decision increases the likelihood that the AfD and may be even the Pirate Party, is represented in the EU parliament. If anything, we suspect it is more likely to take votes away from the CDU than the SPD."
Key Quotes
"First, the German Constitutional Court ruled, in a 5-3 vote, that the 3% threshold for German parties to enter the EU parliament (election in May) is unconstitutional."
"Previously, it had ruled that a 5% threshold was unconstitutional and the Bundestag lowered it to 3%. Today's decision increases the likelihood that the AfD and may be even the Pirate Party, is represented in the EU parliament. If anything, we suspect it is more likely to take votes away from the CDU than the SPD."