Still waiting for the new President of the EC – Danske Bank

FXStreet (Edinburgh) - After the recent EU-Parliament elections, members still need to decide the new President for the European Commission, observed Flemming Nielsen, Senior Analyst at Danske Bank.

Key Quotes

“EU-leaders appear far from reaching a consensus on a new president for the European Commission”.

“Jean-Claude Juncker has so far been a clear favourite but particularly the UK, Hungary and to some degree Sweden resist his nomination”.

“After the EU-leaders met in Brussels yesterday German chancellor Angela Merkel - who has so far supported Juncker - appeared willing to consider alternative candidates and hence opened up the race”.

Germany: Unemployment Rate unchanged at 6.7% in May

Unemployment in Germany increased by 24.000 during May, following a 25.000 drop the previous month, the Bundesagentur für Arbeit informed today. Economists had forecast a 15.000 fall.
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