Update

U.K. Economy Grew 0.7% in Third Quarter, Matching Median Forecast
Tweet TWEET

EU Will Delay Rather Than Lose Carbon-Supply-Fix Vote, UBS Says

The European Union will delay rather than lose a vote on a plan to temporarily fix an oversupply in its carbon market, UBS AG (UBSN) said.

“Five east European countries are against the proposal and Germany is likely to abstain due to the differences in opinions between the environment ministry supporting the proposal and the economics ministry which is firmly against it,” Per Lekander, an analyst for the bank in Paris, said today in an e-mailed research note. “This is a sufficient amount of votes not to achieve the required two-thirds majority.”

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Alessandro Vitelli at avitelli1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.