IBOV 176,402.10 ▲ 1.77% IPSA 10,954.04 ▲ 0.52% IPC MEX 66,709.60 ▲ 0.88% MERVAL 3,281,979 — 0.00% COLCAP 2,301.34 ▲ 0.13% BVL PERÚ 57,575.02 — — USD/BRL5.06▼ 0.35% USD/MXN17.39▼ 0.13% USD/CLP934.59▼ 0.12% USD/COP3,205▼ 1.58% USD/PEN3.40▲ 0.10% USD/ARS1,478▲ 0.02% USD/UYU40.14▲ 1.07% USD/PYG6,035▲ 1.50% USD/BOB10.95▲ 3.79% USD/DOP58.34▲ 0.24% USD/CRC447.42▲ 1.35% USD/GTQ7.62▲ 2.27% USD/HNL26.74▲ 1.52% USD/NIO36.62▲ 0.72% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.36% USD/TTD6.71▲ 0.76% EUR/BRL5.77▼ 0.83% BRENT 93.78 ▲ 3.04% WTI 86.82 ▲ 2.25% IRON ORE 161.91 — — COPPER 6.52 ▲ 0.12% GOLD 4,162 ▲ 2.22% SILVER 61.09 ▲ 3.82% SOY 1,235 ▲ 1.25% CORN 484.00 ▲ 6.90% WHEAT 703.50 ▲ 3.76% COFFEE 317.10 ▼ 4.47% SUGAR 14.80 ▼ 0.54% ORANGE JUICE 145.35 ▲ 1.08% COTTON 80.43 ▲ 1.86% COCOA 5,412 ▼ 3.48% BEEF 220.48 ▼ 2.74% CATTLE 338.43 ▼ 3.18% LITHIUM 69.55 ▲ 0.68% PETR4 42.62 ▲ 2.30% VALE3 74.63 ▲ 3.31% ITUB4 42.85 ▲ 0.75% BBDC4 18.81 ▲ 1.40% ABEV3 16.10 ▲ 1.90% BBAS3 20.89 ▲ 0.05% B3SA3 15.58 ▲ 2.70% WEGE3 46.22 ▲ 8.83% PRIO3 59.65 ▲ 2.53% SUZB3 42.60 ▲ 2.33% RENT3 37.15 ▲ 1.64% AZZA3 17.49 ▲ 0.06% CSAN3 3.93 ▲ 3.97% RAIZ4 0.28 ▲ 3.70% PCAR3 2.74 ▲ 0.37% GMAT3 3.87 ▲ 1.04% PSSA3 54.43 ▲ 1.78% CVCB3 1.23 ▲ 9.82% POSI3 3.71 ▲ 0.82% SLCE3 13.88 ▲ 0.95% NATU3 8.80 ▲ 1.03% BRKM5 6.09 ▲ 6.66% RANI3 7.98 ▲ 1.14% CSNA3 5.31 ▲ 4.94% CMIN3 5.88 ▲ 5.38% USIM5 8.64 ▲ 2.13% GGBR4 24.00 ▲ 2.17% ENEV3 25.80 ▲ 1.49% CPFE3 46.59 ▲ 0.41% CMIG4 11.14 ▲ 1.09% EQTL3 39.00 ▲ 0.44% LREN3 13.55 ▲ 2.11% VIVT3 35.87 ▲ 0.20% RAIL3 13.62 ▲ 2.87% KLABIN 17.95 ▲ 2.05% RAIA DROGASIL 18.34 ▲ 1.16% RDOR3 34.22 ▲ 0.88% HAPV3 11.51 ▲ 2.40% FLRY3 16.73 ▲ 1.09% SMTO3 15.93 ▲ 2.25% UGPA3 32.36 ▲ 1.70% VBBR3 34.60 ▲ 1.91% BBSE3 41.85 ▲ 0.72% BPAC11 56.33 ▲ 1.73% CURY3 30.41 ▲ 1.54% AERI3 2.07 ▲ 1.47% VIVARA 21.45 ▲ 0.19% COMPASS 24.83 ▲ 1.60% VAMOS 3.21 ▲ 3.88% SANB11 26.92 ▼ 1.07% ASAI3 8.46 ▲ 2.55% SBSP3 28.96 ▲ 1.26% WALMEX 49.49 ▲ 0.69% GMEXICO 213.31 ▲ 2.08% FEMSA 230.05 ▲ 1.46% CEMEX 22.36 ▲ 1.31% GFNORTE 189.98 ▲ 2.25% BIMBO 60.19 ▲ 1.35% TELEVISA 9.91 ▲ 1.54% AMX 22.68 ▼ 0.35% GAP 384.02 ▲ 1.45% ASUR 276.74 ▲ 0.65% OMA 232.19 ▲ 2.62% KOF 184.53 ▲ 2.25% GRUMA 282.65 ▲ 0.02% KIMBER 39.15 ▲ 1.95% SQM-B 65,899 ▲ 2.11% COPEC 6,355 ▼ 1.47% BSANTANDER 79.47 ▲ 0.58% FALABELLA 5,861 ▼ 0.98% ENELAM 84.12 ▼ 0.49% CENCOSUD 2,027 ▼ 0.04% CMPC 1,065 ▼ 1.74% BANCO CHILE 188.80 ▼ 0.64% LATAM AIR 23.99 ▼ 0.87% YPF 80,625 — 0.00% GGAL 7,965 — 0.00% PAMPA 5,475 — 0.00% TXAR 679.00 — 0.00% ALUAR 973.00 — 0.00% TGS 9,710 — 0.00% CEPU 2,340 — 0.00% MIRGOR 16,775 — 0.00% COME 42.87 — 0.00% LOMA NEGRA 3,605 — 0.00% BYMA 292.25 — 0.00% TELECOM ARG 4,255 — 0.00% ECOPETROL 17.00 ▲ 2.84% BANCOLOMBIA 84.20 ▲ 0.67% GRUPO AVAL 5.09 — 0.00% CREDICORP 390.71 ▼ 0.10% SOUTHERN COPPER 192.73 ▲ 2.51% BUENAVENTURA 32.59 ▲ 4.29% MERCADOLIBRE 1,803 ▼ 1.10% NUBANK 14.27 ▼ 0.87% XP 17.12 ▲ 1.60% PAGSEGURO 9.60 ▲ 0.16% STONE 11.30 ▲ 0.40% GLOBANT 32.10 ▼ 0.02% TECNOGLASS 46.03 ▲ 1.95% GAP AIRPORT 220.91 ▲ 1.48% ASUR 276.74 ▲ 0.65% OMA AIRPORT 106.85 ▲ 2.51% AMX ADR 26.05 ▼ 0.15% FEMSA ADR 132.28 ▲ 1.48% CEMEX ADR 12.86 ▲ 1.26% PETROBRAS ADR 19.05 ▲ 2.72% VALE ADR 14.72 ▲ 3.30% ITAU ADR 8.47 ▲ 0.83% SANTANDER BR 5.43 ▲ 0.37% AMBEV ADR 3.16 ▲ 1.61% CSN 1.06 ▲ 6.00% GERDAU 4.73 ▲ 1.94% LATAM ADR 51.20 ▼ 0.72% BTC 65,866 ▼ 0.96% ETH 1,941 ▲ 0.65% SOL 78.01 ▼ 0.13% XRP 1.14 ▲ 0.20% BNB 572.84 ▼ 0.13% ADA 0.18 ▲ 1.53% DOGE 0.07 ▼ 0.56% AVAX 6.57 ▲ 0.13% LINK 8.69 ▲ 0.51% DOT 0.84 ▼ 0.45% LTC 46.83 ▲ 0.03% BCH 220.98 ▼ 1.22% TRX 0.33 ▼ 0.02% XLM 0.19 ▼ 0.72% HBAR 0.07 ▲ 3.43% NEAR 1.89 ▼ 2.28% ATOM 1.47 ▼ 0.95% AAVE 97.98 ▲ 2.52% SELIC 14.25% EMBRAER 84.70 ▲ 2.48% EMBRAER ADR 66.97 ▲ 2.29% JBS 12.18 ▲ 1.88% JBS BDR 61.41 ▲ 1.98% MBRF3 15.47 ▲ 2.38% MBRFY 3.00 ▲ 1.69% INTER 5.56 ▼ 0.45% EGX 53,932 ▼ 0.11% USD/ZAR16.42▼ 0.33% USD/NGN1,370▼ 0.55% NIKKEI 66,116 ▼ 0.18% CSI300 4,717 ▼ 0.46% HSI 24,893 ▼ 0.95% NIFTY 23,996 ▼ 0.79% KOSPI 6,798 ▲ 0.74% JCI 6,334 ▼ 0.09% USD/JPY163.06▼ 0.07% USD/CNY6.76▼ 0.08% DAX 25,151 ▲ 0.56% CAC 8,444 ▲ 0.96% FTSE 10,726 ▲ 1.32% MIB 52,811 ▲ 1.01% IBEX 19,601 ▲ 1.14% STOXX 647.36 ▲ 0.65% EUR/USD1.14▲ 0.19% GBP/USD1.34▼ 0.31% SPX 7,512 ▲ 0.03% DJI 52,429 ▲ 0.39% NDX 29,108 ▼ 0.16% RUT 2,980 ▼ 0.26% TSX 35,706 ▲ 0.95% VIX 17.16 ▲ 0.65% USD/CAD1.41▼ 0.18% US10Y 4.6420 ▲ 0.30% IBOV 176,402.10 ▲ 1.77% IPSA 10,954.04 ▲ 0.52% IPC MEX 66,709.60 ▲ 0.88% MERVAL 3,281,979 — 0.00% COLCAP 2,301.34 ▲ 0.13% BVL PERÚ 57,575.02 — — USD/BRL 5.06 ▼ 0.30% USD/MXN 17.40 ▼ 0.10% USD/CLP 935.90 ▲ 0.02% USD/COP 3,201 ▼ 1.68% USD/PEN 3.40 ▲ 0.13% USD/ARS 1,478 ▲ 0.02% USD/UYU 40.14 ▲ 1.07% USD/PYG 6,035 ▲ 1.50% USD/BOB 10.95 ▲ 3.79% USD/DOP 58.34 ▲ 0.24% USD/CRC 447.42 ▲ 1.35% USD/GTQ 7.62 ▲ 2.27% USD/HNL 26.74 ▲ 1.52% USD/NIO 36.62 ▲ 0.72% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.35% USD/TTD 6.71 ▲ 0.76% EUR/BRL 5.77 ▼ 0.81% BRENT 93.78 ▲ 3.04% WTI 86.82 ▲ 2.25% IRON ORE 161.91 — — COPPER 6.52 ▲ 0.12% GOLD 4,162 ▲ 2.22% SILVER 61.09 ▲ 3.82% SOY 1,235 ▲ 1.25% CORN 484.00 ▲ 6.90% WHEAT 703.50 ▲ 3.76% COFFEE 317.10 ▼ 4.47% SUGAR 14.80 ▼ 0.54% ORANGE JUICE 145.35 ▲ 1.08% COTTON 80.43 ▲ 1.86% COCOA 5,412 ▼ 3.48% BEEF 220.48 ▼ 2.74% CATTLE 338.43 ▼ 3.18% LITHIUM 69.55 ▲ 0.68% PETR4 42.62 ▲ 2.30% VALE3 74.63 ▲ 3.31% ITUB4 42.85 ▲ 0.75% BBDC4 18.81 ▲ 1.40% ABEV3 16.10 ▲ 1.90% BBAS3 20.89 ▲ 0.05% B3SA3 15.58 ▲ 2.70% WEGE3 46.22 ▲ 8.83% PRIO3 59.65 ▲ 2.53% SUZB3 42.60 ▲ 2.33% RENT3 37.15 ▲ 1.64% AZZA3 17.49 ▲ 0.06% CSAN3 3.93 ▲ 3.97% RAIZ4 0.28 ▲ 3.70% PCAR3 2.74 ▲ 0.37% GMAT3 3.87 ▲ 1.04% PSSA3 54.43 ▲ 1.78% CVCB3 1.23 ▲ 9.82% POSI3 3.71 ▲ 0.82% SLCE3 13.88 ▲ 0.95% NATU3 8.80 ▲ 1.03% BRKM5 6.09 ▲ 6.66% RANI3 7.98 ▲ 1.14% CSNA3 5.31 ▲ 4.94% CMIN3 5.88 ▲ 5.38% USIM5 8.64 ▲ 2.13% GGBR4 24.00 ▲ 2.17% ENEV3 25.80 ▲ 1.49% CPFE3 46.59 ▲ 0.41% CMIG4 11.14 ▲ 1.09% EQTL3 39.00 ▲ 0.44% LREN3 13.55 ▲ 2.11% VIVT3 35.87 ▲ 0.20% RAIL3 13.62 ▲ 2.87% KLABIN 17.95 ▲ 2.05% RAIA DROGASIL 18.34 ▲ 1.16% RDOR3 34.22 ▲ 0.88% HAPV3 11.51 ▲ 2.40% FLRY3 16.73 ▲ 1.09% SMTO3 15.93 ▲ 2.25% UGPA3 32.36 ▲ 1.70% VBBR3 34.60 ▲ 1.91% BBSE3 41.85 ▲ 0.72% BPAC11 56.33 ▲ 1.73% CURY3 30.41 ▲ 1.54% AERI3 2.07 ▲ 1.47% VIVARA 21.45 ▲ 0.19% COMPASS 24.83 ▲ 1.60% VAMOS 3.21 ▲ 3.88% SANB11 26.92 ▼ 1.07% ASAI3 8.46 ▲ 2.55% SBSP3 28.96 ▲ 1.26% WALMEX 49.49 ▲ 0.69% GMEXICO 213.31 ▲ 2.08% FEMSA 230.05 ▲ 1.46% CEMEX 22.36 ▲ 1.31% GFNORTE 189.98 ▲ 2.25% BIMBO 60.19 ▲ 1.35% TELEVISA 9.91 ▲ 1.54% AMX 22.68 ▼ 0.35% GAP 384.02 ▲ 1.45% ASUR 276.74 ▲ 0.65% OMA 232.19 ▲ 2.62% KOF 184.53 ▲ 2.25% GRUMA 282.65 ▲ 0.02% KIMBER 39.15 ▲ 1.95% SQM-B 65,899 ▲ 2.11% COPEC 6,355 ▼ 1.47% BSANTANDER 79.47 ▲ 0.58% FALABELLA 5,861 ▼ 0.98% ENELAM 84.12 ▼ 0.49% CENCOSUD 2,027 ▼ 0.04% CMPC 1,065 ▼ 1.74% BANCO CHILE 188.80 ▼ 0.64% LATAM AIR 23.99 ▼ 0.87% YPF 80,625 — 0.00% GGAL 7,965 — 0.00% PAMPA 5,475 — 0.00% TXAR 679.00 — 0.00% ALUAR 973.00 — 0.00% TGS 9,710 — 0.00% CEPU 2,340 — 0.00% MIRGOR 16,775 — 0.00% COME 42.87 — 0.00% LOMA NEGRA 3,605 — 0.00% BYMA 292.25 — 0.00% TELECOM ARG 4,255 — 0.00% ECOPETROL 17.00 ▲ 2.84% BANCOLOMBIA 84.20 ▲ 0.67% GRUPO AVAL 5.09 — 0.00% CREDICORP 390.71 ▼ 0.10% SOUTHERN COPPER 192.73 ▲ 2.51% BUENAVENTURA 32.59 ▲ 4.29% MERCADOLIBRE 1,803 ▼ 1.10% NUBANK 14.27 ▼ 0.87% XP 17.12 ▲ 1.60% PAGSEGURO 9.60 ▲ 0.16% STONE 11.30 ▲ 0.40% GLOBANT 32.10 ▼ 0.02% TECNOGLASS 46.03 ▲ 1.95% GAP AIRPORT 220.91 ▲ 1.48% ASUR 276.74 ▲ 0.65% OMA AIRPORT 106.85 ▲ 2.51% AMX ADR 26.05 ▼ 0.15% FEMSA ADR 132.28 ▲ 1.48% CEMEX ADR 12.86 ▲ 1.26% PETROBRAS ADR 19.05 ▲ 2.72% VALE ADR 14.72 ▲ 3.30% ITAU ADR 8.47 ▲ 0.83% SANTANDER BR 5.43 ▲ 0.37% AMBEV ADR 3.16 ▲ 1.61% CSN 1.06 ▲ 6.00% GERDAU 4.73 ▲ 1.94% LATAM ADR 51.20 ▼ 0.72% BTC 65,866 ▼ 0.96% ETH 1,941 ▲ 0.65% SOL 78.01 ▼ 0.13% XRP 1.14 ▲ 0.20% BNB 572.84 ▼ 0.13% ADA 0.18 ▲ 1.53% DOGE 0.07 ▼ 0.56% AVAX 6.57 ▲ 0.13% LINK 8.69 ▲ 0.51% DOT 0.84 ▼ 0.45% LTC 46.83 ▲ 0.03% BCH 220.98 ▼ 1.22% TRX 0.33 ▼ 0.02% XLM 0.19 ▼ 0.72% HBAR 0.07 ▲ 3.43% NEAR 1.89 ▼ 2.28% ATOM 1.47 ▼ 0.95% AAVE 97.98 ▲ 2.52% SELIC 14.25% EMBRAER 84.70 ▲ 2.48% EMBRAER ADR 66.97 ▲ 2.29% JBS 12.18 ▲ 1.88% JBS BDR 61.41 ▲ 1.98% MBRF3 15.47 ▲ 2.38% MBRFY 3.00 ▲ 1.69% INTER 5.56 ▼ 0.45% EGX 53,932 ▼ 0.11% USD/ZAR 16.42 ▼ 0.23% USD/NGN 1,370 ▼ 0.45% NIKKEI 66,116 ▼ 0.18% CSI300 4,717 ▼ 0.46% HSI 24,893 ▼ 0.95% NIFTY 23,996 ▼ 0.79% KOSPI 6,798 ▲ 0.74% JCI 6,334 ▼ 0.09% USD/JPY 163.07 ▼ 0.05% USD/CNY 6.7609 ▲ 0.06% DAX 25,151 ▲ 0.56% CAC 8,444 ▲ 0.96% FTSE 10,726 ▲ 1.32% MIB 52,811 ▲ 1.01% IBEX 19,601 ▲ 1.14% STOXX 647.36 ▲ 0.65% EUR/USD 1.1417 ▲ 0.11% GBP/USD 1.3386 ▲ 0.05% SPX 7,512 ▲ 0.03% DJI 52,429 ▲ 0.39% NDX 29,108 ▼ 0.16% RUT 2,980 ▼ 0.26% TSX 35,706 ▲ 0.95% VIX 17.16 ▲ 0.65% USD/CAD 1.4090 ▼ 0.11% US10Y 4.6420 ▲ 0.30%
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Power Without Victory: Austria’s Centrist Bloc Governs While Sidelining Election-Winning FPÖ

By · February 28, 2025 · 2 min read

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(Analysis) Austria’s political elite has rewritten the rules of power, forming a coalition that excludes the hard-right Freedom Party (FPÖ), despite its victory in last September’s elections.

The center-right Austrian People’s Party (ÖVP), the center-left Social Democrats (SPÖ), and the liberal Neos have joined forces in a historic three-party coalition.

This alliance, finalized after 151 days of negotiations, marks Austria’s first such government since the 1940s. It reflects a deliberate effort to block the FPÖ from power.

The FPÖ, led by Herbert Kickl, won 28.8% of the vote—the largest share of any party—and secured 57 of 183 parliamentary seats. However, its anti-immigration platform and Kickl’s leadership alienated potential partners.

After failed coalition talks with the ÖVP, the FPÖ was sidelined as mainstream parties scrambled to form a government. Christian Stocker of the ÖVP will serve as chancellor, with Andreas Babler of the SPÖ as vice-chancellor.

Power Without Victory: Austria’s Centrist Bloc Governs While Sidelining Election-Winning FPÖ
Power Without Victory: Austria’s Centrist Bloc Governs While Sidelining Election-Winning FPÖ. (Photo Internet reproduction)
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The coalition’s 200-page governance plan attempts to address voter concerns while avoiding far-right policies. It includes stricter asylum rules, such as halting family reunifications for refugees and enforcing integration programs for new arrivals.

Austria’s Political Crisis

The program also proposes a headscarf ban for girls under 14, echoing some FPÖ demands. Economically, the coalition plans deep budget cuts to address Austria’s recession while raising taxes on banks and energy companies to fund social programs.

Yet, this coalition faces significant challenges. Public support for the FPÖ has surged to nearly 35%, positioning it as a strong opposition force. The three governing parties hold only a slim majority with 109 seats, leaving them vulnerable to internal divisions and external pressures.

Critics argue that this coalition represents a desperate move by “losers” to cling to power at the expense of democratic norms. Voters are increasingly questioning why the election winner was excluded from governance.

This political maneuver mirrors broader European trends where centrist parties seek to block far-right movements from gaining power. Germany’s Alternative for Germany (AfD), for example, remains excluded from coalitions despite becoming its second-largest party.

However, Austria’s FPÖ has previously governed, making its exclusion now more contentious. The question remains: does shutting out the winner strengthen democracy or deepen voter disillusionment?

For Austria’s nine million citizens, this experiment could define their political future—and test how far mainstream parties can go to preserve power in a fragmented democracy.

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