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Jakobsen: Why Juncker's EU appointment would be a 'violation'

Jean-Claude Juncker: He's "bad" for Europe and his appointment as the next President of the European Commission would be a "violation" of the millions of people who voted for anti-EU parties in elections in May. That's according to Saxo Bank's Chief Investment Officer, Steen Jakobsen in this personal appraisal of what's currently going on in the corridors of power in Brussels.

Jakobsen says Juncker is an arch-federalist and with him in charge, there'll be no reform of the EU's institutions. He also says that despite being backed by Angela Merkel, he's clearly not Germany's first or either second choice but he is the ultimate "compromise" candidate. Jakobsen talks of a lost decade in Europe if Juncker's in charge as the reforms he sees as being so vitally needed just won't happen.

Britain's Prime Minister, David Cameron, is reported to have secured a vote on Mr Juncker's appointment, even though he's most likely to lose it. Downing Street has says if he were to get the job, it would be an "irreversible step" and it would give more support to those people who want the UK to leave the European union altogether.

02:52 minutes
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