The clocks fall back and for those whose time zones are not affected, it means that market happenings in Europe will now be an hour later until daylight savings return again next year. For the longest time already, European politicians have engaged in a heated debate in wanting to abolish this practice. And those calls were repeated again in the past week.
Spanish prime minister, Pedro Sanchez, said that daylight savings “barely helps save energy and has a negative impact on people’s health and lives”. The closest that daylight savings in the region was to being scrapped was back in 2018-19. The European Commission proposed to abolish the practice and it was approved by the European Parliament, only to have stalled at the EU Council as member states failed to reach an agreement on the matter.
This article was written by Justin Low at investinglive.com.