Political uncertainty is present in almost every country in the world and with the heavy election year in Europe it will be “the dominant factor” in 2017, the chairman of UBS told CNBC on Tuesday.
“Political uncertainty is now the name of the game, almost in every country,” Alex Weber, chairman of the Swiss bank UBS told CNBC on Tuesday in Dubai.
“In Britain we’ve seen that over the last summer,” Weber said referring to the country’s vote to leave the European Union. He added that this uncertainty has now spread to Germany, France, the Netherlands and Italy where voters will soon choose new leaders.
First off is the Netherlands but investors seem more concerned over the presidential race in France, where the far-right candidate is expected to win the first round of the election.
“I’m pretty sure Marine Le Pen will be one of these candidates (in the final round) but I don’t think she will be the winner of the race,” Weber told CNBC, adding that he is not very worried about a right-wing shift in French politics.
