Reported 10 months ago
The four-day European Parliament elections ended on June 9, 2024, with preliminary results showing gains for far-right parties despite center-right parties maintaining the majority. Both ruling parties in Germany and France lost to far-right parties, prompting French President Macron to dissolve parliament and call for early elections. The European stock markets plummeted in response, with Stoxx 600 down 0.7%, DAX down 0.93%, and CAC 40 plunging 2.01%. The Euro fell 0.5% against the US Dollar to a one-month low, while also dropping to a 21-month low against the Pound. Far-right parties combined to gain 131 seats in the European Parliament, with the National Rally in France getting double the votes of Macron's party. The Alternative for Germany (AfD) secured the second-highest vote share at 16.5%, just behind the Social Democrats in Germany. Belgian Prime Minister De Croo's party faced defeats across federal, regional, and European Parliament elections, leading to his resignation but continuation as caretaker prime minister until a new coalition is formed.
Source: YAHOO