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February 11, 2024
Da Right Be Ebil

🇪🇺 This time, the far-right threat is real — Politico

The next European Parliament looks more pro-Russian and less green than the current one. Could a far-right EU really happen?

Every five years, like clockwork, mainstream politicians freak out about the rise of radicals and populists ahead of the European election.

But then, the danger suddenly seems to dissipate as the traditional center-left and center-right forces that built the European Union forge coalitions that hold more radical parties at bay.

Don’t bank on it this time.

In 2024, the right-wing surge in the polls seems bigger and bolder, with one predicting the nationalist right and far right could pick up nearly a quarter of seats in the European Parliament in June.

Even if the center right — currently tipped to come first in the election — refuses to form a governing coalition with ever more powerful firebrand fringe parties, there’s still a significant chance the far right will, for the first time, be able to influence Europe’s policy agenda. That will enable it to threaten the EU’s sacred values on rule of law and human rights, and block or even overturn major green and climate laws.

The far-right Identity & Democracy (ID) grouping in the European Parliament, the sixth largest of seven, will gain 40 seats in June, meaning the group could have 98 lawmakers, vaulting into the third place currently occupied by the Liberals. It’s already home to the German extreme-right Alternative for Germany (AfD) and the French far-right National Rally (RN) party.

Then, if the current fifth largest grouping, the 67-member right-wing European Conservatives and Reformists (ECR) group — the home of Poland’s Law and Justice (PiS) and Italy’s ruling Brothers of Italy — also grows by some 18 seats, it could become the fourth largest group in Parliament, surpassing both the Greens and the liberals.

Between those projections and the 12 members of Hungarian Prime Minister Viktor Orbán’s Fidesz party, who are politically homeless, the ECR and ID could muster 25 percent of seats in the next European Parliament, according to a poll commissioned by the European Council on Foreign Relations.

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OIL SHOCK

🇮🇱 ❌ 🇮🇷 🛢 📈 — Deutsche Bank: Oil Prices will go to $125/barrel if the Iran-Israel conflict spills over into the Straight of Hormuz

@CIG_Telegram

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Analysis

Developments in the Iran-Israel war. It is currently 1:11am in Tel Aviv and 1:42am in Tehran.

Main points:

Iran and Israel have started targeting each other’s energy infrastructure.

Iranian missiles continued to target and impact northern and central Israel.

Israel has started targeting Iranian oil infrastructure, including oil refineries and oil depots.

Israeli airstrikes continue to target various parts of Tehran and the surrounding areas.

Iranian air defence seems to finally be doing some damage to Israeli missiles and drones. In turn, Israel has deployed dozens of small quadcopters and loitering munitions to waste Iranian air defence and saturate for larger attacks with cruise missiles.

Drones launched from Iran and factions in Iraq continue to target northern and southern Israel.

Missiles & drones:

2 rockets were launched from the Khan Younis area of southern Gaza by an unknown Palestinian faction. Neither were intercepted, with the IDF claiming they hit an open area with no casualties.

2 rockets were ...

Oil Prices

OIL MARKETS REACT SHARPLY TO ESCALATING MIDDLE EAST TENSIONS

📈 WTI CRUDE IS NOW FORECAST TO HIT $94.10 BY YEAR-END, UP OVER $21 IN A WEEK, ACCORDING TO KALSHI MARKETS.

THE JUMP FOLLOWS IRAN’S CANCELLATION OF NUCLEAR TALKS WITH THE U.S., CITING ISRAELI AIRSTRIKES. WITH TENSIONS RISING, MARKETS ARE PRICING IN THE RISK OF REGIONAL ESCALATION AND POTENTIAL DISRUPTION TO OIL FLOWS THROUGH THE STRAIT OF HORMUZ, A KEY ROUTE FOR 20% OF GLOBAL OIL.

ANALYSTS WARN THAT A FULL CLOSURE OF THE STRAIT COULD PUSH PRICES ABOVE $120–$150 PER BARREL. ...

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