EU Elections: What’s at Stake?

Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 10 May 2019

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Elections for the European Parliament taking place May 23-26 are setting up to be exceptionally important given the rise of populist and nationalist forces that threaten Europe’s long-standing centrist status quo. Some even see this election as a crucial moment in deciding the future of the European Union. Allison Nathan from Goldman Sachs Research talks to experts about the potential implications of this important election in this episode of Top of Mind. José Manuel Barroso, former President of the European Commission and Chairman of Goldman Sachs International, gives firsthand insight on the large and growing relevance of the European Parliament. Mark Leonard, Director of the European Council on Foreign Relations, provides his view on how a possible realignment in power at both the European and national levels could disrupt everything from EU leadership appointments, to trade deals, to the EU’s budget— not to mention implications for fiscal policy in member countries, among other policy areas. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	From Goldman Sachs research, this is Allison Nathan. Welcome to Top of Mind, a podcast that explores
0:05.9	macroeconomic issues on the minds of our clients. At the end of this month, voters across Europe
0:19.5	will head to the polls for the European
0:21.2	parliamentary elections.
0:23.0	Now, normally, these elections don't get a lot of attention.
0:26.0	They happen once every five years without much fanfare, and after all of a sudden done,
0:30.4	they've tended to end with a continuation of power and policies for the centrist-governing
0:35.1	coalition.
0:36.0	But this year is shaping up to be different.
0:38.9	Many see the election as a crucial moment in deciding the future of the European Union, and
0:43.8	that's largely thanks to a rise in populist, nationalists and broadly Eurosceptic forces,
0:49.6	as well as the looming effects of Brexit.
0:51.6	Will a populist wave sweep through the European Parliament and will the right finally unite?
0:57.0	This is a big moment. It's the moment of European democracy.
1:01.0	We have to enjoy it in a way.
1:04.0	We have to sort of project ourselves as citizens and do the same thing that we basically do
1:10.0	when a national election is called.
1:12.3	We have a say, we have a preference, and we discuss.
1:16.4	Will the future of European democracy be one for the populace?
1:19.8	Here's leader of the Eurosceptic Brexit Party, Nigel Farage.
1:23.2	I think given the disconnect that exists right now between the people and parliament, I think unless that gap's closed, anything's possible.
1:31.1	And here's Steve Bannon, former chief strategist to President Trump, who's taken his message to Europe and has been campaigning for far-right candidates.
	...

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