2024-06-11 09:20:00 ET
Summary
- The European elections brought the expected shift to the political right in the European Parliament.
- The biggest risk for policy, however, stems from national politics in France and Germany.
- Another potential longer-term implication of both the European and the national dimension is that Europe as a bloc could become less predictable and hence also less attractive to international investors.
The results are clear. By a huge margin, the centre-right European People’s Party ((EPP)) will be the strongest political group in the next European Parliament, gaining almost 26% of the seats. Greens and Liberals (Renew) were the biggest losers. At the same time, both right-wing and nationalist party groups gained seats. The biggest increase in terms of percentages actually came from the so-called nonaligned parties, which do not form a political group in parliament. The gains of the latter were mainly a result of the German AfD, which until two weeks ago was still part of the “Identity and Democracy” group but was kicked out by Marine Le Pen....
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European Elections: What A Shift To The Right Could Mean For The Economy And Markets