EU vote results could mean policy shift on Ukraine, climate change
we have the latest on a political shakeup in Europe far-right political parties are celebrating gains in the European parliamentary elections CBC Susan ormiston has been covering this story for us and as Susan tells us the results could mean a big swing in EU policy in a number of areas and have already set off a huge political gamble in France France has been plunged into snap elections after the French president’s party was trounced by the party run by Marine Leen a nationalist party Emanuel macron said he couldn’t ignore the message and called for SNAP elections beginning in three weeks it’s a gamble he hopes a fresh National vote will restore confidence in his party and his leadership but he is weakened far right and right-wing parties swept across Europe making gains in Austria in France and in Germany the afd coming second the German chancellors party the social Democrats took its worst beating in over a century and so his leadership is also under question today the surge to the right was predicted but Ursa Von the EU commissioner running for another term said the center did hold her European People’s Party pulled the majority of votes inside the European Parliament we will build a Bastion against the extremes from the left and from the right we will stop them this is for sure now it’s all about adjusting the results reshuffling this party as winning parties look for alliances inside the EU the commissioner will be chosen in elections expected around mid July the EU block faces some Monumental challenges in the next 5 years including the war in Ukraine defense of Ukraine made a a little more difficult by the rise of the far right and right-wing parties inside Parliament and the greens lost all the gains they made in the last elections in 2019 for example in Germany voters under 30 deserted the Green Party by 18% putting in question the future of the European green deal the greens are saying this morning that Europe needs to stand up and protect the green deal and climate targets and legislation which will be more difficult with headwinds from the right Susan ormiston CBC News Brussels while the political uncertainty in France is making for a lot of red across Europe’s financial markets Scott Peterson is tracking that part of the story for us it’s a cliche that money does not like uncertainty but that’s exactly what we’re seeing this morning with Rising concern of extremism in Italy Germany and France and with those snap elections in France we’re seeing a very cautious environment financially with the markets pulling back across the board in Europe and in the French markets in particular but let’s take a look at some details as far as what uh fearful uh and concerned money looks like in particular we’re seeing the French Stock Exchange in Paris for example the karon down 2% in trading and all exchanges across the board were down in Europe on these concerns French banks the BMP parba and also sock Jen were both down over eight% in concerns there as well also the French the 10-year bond yield that hit the highest level this year and that’s on concern of lenders looking about the stability of the French Market in particular Rising their yields to lend that kind of money to the French government so uh we’re also looking at the European currency that fell to a one Monon low and a decisively down day for that currency so these markets are reacting not in panic but just certainly with concern uh and this is and a little bit of fear creeping in these markets as far as watching the situation particularly with the the elections in France very carefully Scott Peterson CBC News Toronto
Far-right parties rattled the traditional powers in the European Union with major gains in parliamentary seats, although pro-EU groups remain the dominant forces. The gains of the far right came at the expense of the Greens, who were expected to fall back to sixth position in the legislature.
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