Advance of the far right in Europe worries industry fearful of political isolation and loss of markets

This Tuesday (7), some of Germany’s most important companies, including Siemens, BMW, Deutsche Bank, Bosch and Mercedes, announced a joint campaign against the extreme right and for conscious voting in the elections for the European Parliament, scheduled to take place between June 6th and 9th. The information is from AFP agency.

These companies signed an article declaring their union in an economic alliance for diversity, understanding and tolerance, and against extremism and populism. The campaign, titled “We Support Principles”, aims to use social media to emphasize the importance of European unity for prosperity, growth and jobs.

In Germany, there are growing fears that the far-right Alternative for Germany (AfD) party will gain ground in the European Parliament elections, which could weaken the bloc and strengthen the AfD internally. Research indicates that the party could receive around 15% of the votes in June, becoming the second largest bloc in the European Union Legislature.

In the statement released alongside the campaign, the companies highlighted that “exclusion, extremism and populism represent threats to Germany’s attractiveness and our prosperity”. The initiative by companies of this size is unusual in the country and also includes state-owned companies, such as Deutsche Bahn, responsible for the railways, and unions.

Christian Bruch, CEO of Siemens Energy, which is part of the alliance, highlighted the importance of combating isolationism, extremism and xenophobia, stating that these elements are harmful to exports and jobs in Germany.

Growing influence

June’s European elections are crucial as they will allow far-right parties to consolidate their growing influence. However, traditional political forces are already considering specific alliances with some of these movements, which could change the balance of power in the European Parliament.

With 370 million voters being called to the polls in the 27 countries of the European Union, the elections will define a new legislature. The European Parliament plays a key role in formulating EU laws and policies, and elections will determine the distribution of key positions in EU institutions.

Despite the challenges posed by the advance of the far right, the dominant coalition, made up of the European People’s Party (EPP), the Social Democrats (S&D) and the liberal centrists (Renew Europe), will likely continue to lead the decision-making process after elections, according to experts.

However, the strengthening of nationalist parties could increase the frequency of right-wing coalitions formed by the EPP and the European Conservatives and Reformists (ECR) bloc. The political balance resulting from these elections will have significant repercussions for the future of the European Union and its policies.


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