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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 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.”

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