Europe votes for uncertainty
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 27 May 2019
⏱️ 18 minutes
🧾️ Download transcript
Summary
Election results leave the European parliament more fragmented than ever. The greens, liberals and far right are up. The traditional left and right, which have dominated European politics for decade, declined further. How will this affect business sentiment on the continent, as well as the EU's economic reform agenda?
Ed Butler hosts a live discussion with Ben Butters of the European Association of Chambers of Commerce and Industry; Allie Renison, head of Europe and Trade Policy at the UK's Institute of Directors; and the BBC's economics correspondent Andrew Walker.
(Picture: Young supporters of the European Green party react to exit poll results; Credit: Adam Berry/Getty Images)
Transcript
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| 0:00.0 | Hello there, I'm Ed Butler and welcome to Business Daily from the BBC World Service. |
| 0:06.3 | Coming up, European voters have had their say, although what exactly they have said, remains less than clear. |
| 0:12.9 | The far right is claiming victory. |
| 0:15.8 | The European Union can no longer ignore people's desire for protection, liberty and sovereignty. It |
| 0:21.6 | consequently has to change the direction of its economic, social and immigration policies. |
| 0:27.8 | But then, so are the European Liberals and Greens as well. |
| 0:33.5 | We haven't just got a great result in Germany, but in Ireland, the Netherlands, Austria, all across Europe. |
| 0:40.5 | The Greens are strong. |
| 0:43.6 | So who has won? We're looking at the implications for business and Europe's economy. That's Business Daily from the BBC. |
| 0:54.1 | A tumultuous night indeed for established parties across Europe. |
| 0:58.2 | The big centre-right and centre-left blocks in the European Parliament have lost their |
| 1:02.5 | combined majority. |
| 1:04.2 | There was increased in support, though, for other centre-is parties, the Greens. |
| 1:08.7 | And also nationalists. |
| 1:10.0 | The centre-right European People's Party |
| 1:12.3 | does remain the largest bloc. It's expected to form a pro-EU coalition. As ever, with a Europe-wide |
| 1:19.0 | vote like this, though, very differing results, depending on the country and the regional concerns. |
| 1:23.8 | We're going to be spending the next few minutes discussing all of this. To do so, I'm joined by Andrew Walker, the BBC's economics correspondent. |
| 1:31.7 | Andrew, first of all, just in practical terms, quickly remind us. |
| 1:35.5 | What does the make up of this new Parliament effect in general terms? |
| 1:40.2 | I mean, what are its decision-making powers? |
| 1:42.4 | The great majority of European Union legislation has to be approved by the European Parliament. |
... |
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