Business News

CCTV Script 14/03/17


This is the script of CNBC's news report for China's CCTV on March 14, Tuesday.

Welcome to CNBC Business Daily, I'm Qian Chen.

The Netherlands will head to the polls on March 15 to elect its next prime minister.

The vote is the first of several to take place across Europe this year and is seen as something of a bellwether for political sentiment on the continent.

Could Wednesday's vote see the Netherlands succumb to the populist attitudes that characterized the 2016 U.K.-EU referendum and U.S. election? Here's everything you need to know.

A total of 28 parties are vying for a chance to form a new Dutch government.

The Netherlands is a fractured political environment, based on proportional representation - or fair shares for all - which means that a coalition government is always necessary.

With 150 seats up for grabs in the Dutch parliament, and 76 required to form a majority, the incoming government is likely to be made of at least four to six different parties. Here are the front-runners among them.

VVD - People's Party for Freedom and Democracy (40 seats), Led by current Dutch Prime Minister Mark Rutte

PvdA - Labour Party (35 seats)

SP - Socialist Party (15 seats)

CDA - Christian Democratic Appeal (13 seats)

PVV - Party of Freedom (12 seats)

D66 - Democrats 66 (12 seats)

GL - Greens (4 seats)

Euro-skeptic Geert Wilders heads up the populist Party of Freedom, which has gathered momentum among Dutch voters in this year's campaigning, capitalizing on growing nationalist and anti-Islamic sentiment.

The latest Dutch polling indicator Peilingwijzer shows the Liberals in the lead, set to win 24-28 seats.

Wilders, who was previously seen at the top of the polls, appears to have lost momentum in the final week. However, his Freedom party is poised to secure the second-largest number of seats, around 20-24.

The most likely outcome currently looks to be a coalition between the four parties that cover the center spectrum.

But the probability is that they will have to strike an allegiance with a fifth and, given the shock election results of 2016, all bets are certainly not off.

[Deb Clarke, HEAD of Investment Research, Mercer] "And lucky to get, we think about 40 percent of the vote. That's not going to be enough for them to govern. what they need to do is to find somebody to partner with. Now everybody else has said they are not going to form a coalition with the PVV, but I'm not sure what happens at that point, so we do think they can have quite a big standing, but the reality is that unlikely to be acutally able to govern."

The past month has continued to be volatile and investors will be watching bonds and stocks closely to see the impact of the election on returns.

While the final coalition decision will be important for Europe and its continued EU-relations, the outcome of the leadership race will also have particular significance for France and Germany, which are also both holding general elections this year.

Should Wilders gain a stronghold among voters, the rest of Europe is likely to face an uneasy wait to see how this populist sentiment translates across neighboring countries.

CNBC's Qian Chen, reporting from Singapore.