An incomplete look at how the seat count is progressing, these are based on estimates so there could (will be) change but it does give a broad picture of what is happening.
Based on European Parliament projection of what the European Parliament may look like from 2019 until 2024.
In brief (summary via CNN):
- The Grand Coalition (the two largest centrist groups - European People's Party (EPP) and the Progressive Alliance of Socialists and Democrats (S&D)) have lost 81 seats to smaller parties.
- Alliance of Liberals and Democrats for Europe and Renaissance (ALDE&R) -- which includes French President Emmanuel Macron's La République En Marche party -- has picked up 33 seats.
- Greens look to have gained 19 seats
- Euroskeptic political group (Europe of Freedom and Direct Democracy (EFDD) -- which comprises of Germany's far-right Alternative for Germany (AfD) and Brexit campaigner Nigel Farage) set for a gain of 14 seats.
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In a nutshell …
- further fragmentation
- Euroskeptic parties will not have the numbers to disband the Union
For the EUR … no panic based on thee projections. Indeed EUR/USD latest is a steady 1.1210, barely changed from late Friday levels.
I'm sure the political junkies will have their takes - comments welcome.
