27 May 2014
Echoes of the EU-Parliament elections - Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, assesses the outcome of the recent elections.
Key Quotes
"The gains scored by the Front National, UKIP and others in EU elections have made lots of headlines. But if there was a big winner in the eyes of markets, it was Matteo Renzi."
"Markets were braced for a big protest vote and unsurprised to get one. It doesn't change the balance of power in the EU Parliament of course, but maybe, just maybe, the wake-up call to the Euro-Elite will be enough to get them properly focused on growth and jobs. And then again, maybe they'll just go on leaving that to Mario Draghi."
Key Quotes
"The gains scored by the Front National, UKIP and others in EU elections have made lots of headlines. But if there was a big winner in the eyes of markets, it was Matteo Renzi."
"Markets were braced for a big protest vote and unsurprised to get one. It doesn't change the balance of power in the EU Parliament of course, but maybe, just maybe, the wake-up call to the Euro-Elite will be enough to get them properly focused on growth and jobs. And then again, maybe they'll just go on leaving that to Mario Draghi."