Ukraine President Could Dissolve Parliament

Ukrainian President Petro Poroshenko said on Thursday he might announce the dissolution of parliament as early as Sunday – a move that will set up a parliamentary election in Ukraine in late October.

“The decision will be made when there is a constitutional basis for it and that moment, as everyone knows, is on Independence Day (Aug. 24),” Poroshenko was quoted as saying by Interfax Ukraine news agency.

The governing coalition in Ukraine, which ousted its Moscow-backed president in street protests in February precipitating major separatist rebellions in its eastern regions in which more 2,000 people have been killed, collapsed on July 24.

Under the constitution, at least a month has to pass before parliament can be dissolved.

Poroshenko, a wealthy confectionery magnate, and his pro-Europe leadership hope to have stabilized the situation enough by October to be able to hold an election under normal conditions which will earn his new administration increased legitimacy.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza