Poll: What Do the Latest European Parliament Elections Mean for the Region’s Economy?
In a poll conducted earlier this week in the CFA Institute Financial NewsBrief, we asked readers for their opinion on the recent European Parliament elections.
What does the electoral gain made by anti-EU parties in the latest European Parliament elections mean for the region’s economy for the next five years?
Amid austerity and a weak economic recovery, the electoral gains made by anti-EU parties (nicknamed the “Eurosceptic earthquake”) in the European Parliament elections in May have caused much speculation. What the election outcome essentially means is that those who want to cut back the EU’s powers, if not abolish the EU completely, will have a greater say in its affairs.
Much is at stake. The economic union of 28 member states facilitates the free movement of people, goods, services and capital. The union has had a deep impact on the lives of the people in the member countries. But some of its basic elements, particularly the free movement of people, are now major populist issues.
These issues may be why 37% of the 520 respondents to our poll earlier this week see the electoral gains as bad news compared with only 14% who see it as good news for EU economies. But 27% of respondents believe it is important not to read too much into it. Pro-EU parties remain a majority, and with the euro resisting depreciation against other currencies, the financial markets seem unimpressed.
If you want to learn more about this issue, listen to the recent CFA Institute podcast discussing the EU election results.
Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.
