Election

France would feel lonely if debt crisis hit

18 Jun 2024

Market fears of a far-right victory in the elections sent yields on the country’s 2.3 trln euro debt to 12-year highs. If traders’ worries deepen, support from the European Central Bank is not a given. And a eurosceptic government would be deprived of Brussels’ goodwill.

Latest UK builder M&A may yet have completion date

14 Jun 2024

Crest Nicholson rejected bigger rival Bellway’s $828 mln all-share offer. While Crest’s new profit warning is a turnoff, falling returns mean housebuilder mergers generally make sense. Bellway may not need to offer much more to convince its target’s shareholders.

Europe’s election eruption threatens paralysis

13 Jun 2024

Centrist and green parties saw big losses in a vote to elect the European Union’s parliament, sparking a shock snap election in France. In this Viewsroom podcast, Breakingviews columnists explain how ensuing instability could slow the continent’s response to urgent global issues.

French investors face full year of financial funk

13 Jun 2024

If Marine Le Pen’s far-right RN party wins next month’s election and sticks to its pledges, France’s 5% budget deficit will balloon. President Emmanuel Macron could call a new election, but not for 12 months. Amid paralysis or worse, the state’s fiscal position may get messier.

Super Mario could give weak EU a shot in the arm

10 Jun 2024

After the European Parliament elections, the EU will choose its leaders. Mario Draghi, who helped save the euro, brings unique experience. If the 27 member states wanted to rise to global challenges, they would pick him to chair their discussions as European Council president.

Macron lobs petrol on fiery French economic waters

10 Jun 2024

After suffering a beating in European elections, France’s president has called a snap parliamentary poll. Debt investors are already antsy about the country’s yawning deficit. A new electoral battle with Marine Le Pen’s far-right National Rally party will hardly help matters.

Modi’s allies will be new defining force for India

7 Jun 2024

Coalition partners may demand special funds for their regions, and ask for key ministries, for supporting Prime Minister Narendra Modi's new government. Handouts can give states an edge to court companies like Tesla. The resource-grab will create tension in the halls of power.

UK building plans will fail to get off the ground

6 Jun 2024

Rivals in the July 4 election promise 300,000 new houses a year to ease shortages and lower prices. A lack of builders makes that unlikely. More than 346,000 construction jobs have disappeared since 2019. Without immigration or training, Britain will remain cramped and expensive.

India’s resilient democracy comes with a cost

6 Jun 2024

Narendra Modi will have to rely on a coalition government after a shock upset in the national elections. In this Viewsroom podcast, Breakingviews columnists explain why politicians may dig deeper to support the poor and how power sharing may create challenges for big business.

EU vote is prelude to Europe’s real choice

5 Jun 2024

Some 370 mln voters from 27 member states are set to pick a new assembly. The result will influence how EU government leaders decide who should lead the next European Commission. Backing incumbent Ursula von der Leyen to avoid a chaotic deadlock is in the bloc’s best interest.

India may no longer be Narendra Modi’s

4 Jun 2024

His party is on course to lose its majority and will be at the mercy of allies to form a government. It ends a decade of extraordinary stability in the world’s fifth-largest economy. A market selloff hints at the costs of coalition rule. Growth may slow but there are some gains.

Modi 3.0 offers limited opportunities for the West

3 Jun 2024

Western leaders’ hopes for India as a bulwark against China outweigh their concerns about Narendra Modi’s authoritarian streak. They will have more scope to work with the prime minister during his expected third term. But the overlap of interests and values is limited.

South Africa avoids doomsday, remains in purgatory

3 Jun 2024

After the elections, the African National Congress will lose the grip on parliament it held since 1994. Poor results by the hard left lower the risk of a market-unfriendly ‘doomsday coalition’. But with GDP growth of just 0.9% and large deficits, the country’s future looks bleak.

India’s leader faces a reckoning with its poor

3 Jun 2024

Exit polls suggest Narendra Modi will secure a third term with a big majority. Raising rural incomes will be high on his to-do list. Consumption is growing at 4%, making the nearly 8% GDP pace look shaky. Fixing that will boost India's reliability as a global trade partner too.

Donald Trump verdict judged leniently by investors

31 May 2024

The former US president joins Italy’s Berlusconi and other politicians in the criminal hall of shame. He also may yet be re-elected, but there’s no extra risk being imputed to the country’s debt, currency or markets. However robust the system, sanctioned wrongdoing will erode it.

Tories’ obsession with French unions is obsolete

31 May 2024

UK PM Rishi Sunak accused Labour of plotting ‘French-style union laws’. But France has the lowest proportion of organised workers among big European nations. And there were fewer strikes in the last three years than in Britain. Time for the Conservatives to find another bogeyman.

Change is coming to UK’s macroeconomic policy

31 May 2024

The opposition Labour Party, the strong favourite to win the upcoming election, has promised continuity in its fiscal and monetary approach. An ugly economic inheritance at home and global challenges abroad make that ambition unrealistic. Investors should prepare for a shift.

Trump’s rich backers normalize criminal behavior

30 May 2024

In a historic verdict, the property mogul became the first US president convicted in court. His outlandish behavior hasn’t cost him support from billionaires such as Blackstone’s Steve Schwarzman, whose money may help Trump get re-elected. Their collective greed is now on trial.

Next UK leader will bang head against fiscal roof

30 May 2024

Britain’s election in July is likely to hand power to the opposition Labour Party. In this Viewsroom podcast, Breakingviews columnists discuss how constrained finances could mean higher taxes. For business leaders, the promise of more stability may be as good as it gets.

Technocrat PM will save Dutch voice inside the EU

29 May 2024

By choosing civil servant Dick Schoof, The Hague put pragmatism before politics in the premier’s slot. Far-right Geert Wilders won at the polls but elected to pass on the job. This will help the Netherlands keep its sway over key issues like EU debt and the green transition.