Weekly Outlook 27/05/2019 to 31/05/2019

European Elections

Results of the elections for the EU parliament were revealed last night. Throughout the week, countries around Europe voted to elect new deputies to represent their interests in the European Union. The highest voter turnout in EU elections in the last 20 years (approximately 51%) was registered. Portugal, on the other hand, had its lowest ever voter turnout in European elections (68.6%). Furthermore, there seems to have been a shift from mainstream political families towards the greens and pro-business liberals. Also, nationalist right-wing parties arose victorious in France and Italy. Reactions should be expected over the week.

Goodbye, Theresa May

Theresa May announced she will be standing down as leader of the Conservative Party and as Prime Minister of the UK (when a new leader for the party is found) on the 7thof June and the question of who will replace her has arisen. The battle inside the party is on and the clear candidates for her replacement are Boris Johnson (one of the main voices for Brexit, former foreign secretary of May’s administration, former mayor of London); Jeremy Hunt; Rory Stewart; Dominic Raab; Esther McVey and Matt Hancock.

Additional Information

  • The US Bureau of Economic Analysis is set to release annualized GDP growth figures on Thursday

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