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France's Front National, U.K.'s UKIP storm European elections

  • Euroskeptic and far-right parties have made strong gains in some countries in elections for the European parliament as voters expressed resentment at the EU and the severe austerity it has promoted.
  • A stand-out result is the 25% that the anti-euro Front National won in France, where President François Hollande's Socialists received just 14%.
  • In Britain, UKIP, which wants the country to leave the EU, took the most votes with a share of more than 27%. Anti-EU parties also did well in Greece and Denmark.
  • Markets seem to be fairly sanguine about the results, with the euro +0.1% at $1.3638.
  • In Italy, the center-left ruling Democrat Party, led by new Prime Minister Matteo Renzi, won 41% of the vote. "The outcome is...likely to delight the markets, where investors can be expected to see it as a resounding vote of confidence in the 39 year-old prime minister, his youthful cabinet and their ambitious program of political and economic reforms," writes the Economist's Charlemagne column. The FTSE Mib is +2.5%.
  • Euro Stoxx 600 +0.35%, London closed, Paris +0.7%, Frankfurt +1.5%, Madrid +0.7%.
  • ETFs: GREK, EWI, EU, EWU, EWQ, EDEN, IFEU, EWUS, ITLY, ITLT, FKU, DXPS, DBUK
Comments (17)
  • Michael Clark
    , contributor
    Comments (8858) | Send Message
     
    The anti-establishment is coming to America also. Will it be the Tea Party; or will the Democratic Party crack and create a new party that is anti-status quo? It will be interesting to see. Right now it looks like the Tea Party.
    26 May, 06:09 AM Reply Like
  • rasanders22
    , contributor
    Comments (544) | Send Message
     
    The Tea Party recently got beat badly in a small election. I see Libertarians gaining a stronger base.
    26 May, 06:30 AM Reply Like
  • spald_fr
    , contributor
    Comments (2733) | Send Message
     
    The Euroskeptic (now with a capital "E") parties will now have about a third of the EU seats.
    26 May, 03:35 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (3903) | Send Message
     
    Tea Party is done, they were ineffective and too much with the brinkmanship to be taken seriously now.
    26 May, 08:34 PM Reply Like
  • machiavelli
    , contributor
    Comments (513) | Send Message
     
    Tea Party is a very good Canadian rock band... too bad the name was usurped by a political group of imbeciles.
    26 May, 10:00 PM Reply Like
  • Vienna Investor
    , contributor
    Comments (14) | Send Message
     
    syreza, now #1 in greece is not anti eu contrary to all those narrow minded parties across the european union on the right and extreme right.
    26 May, 07:51 AM Reply Like
  • Cleatus in Cleveland
    , contributor
    Comments (27) | Send Message
     
    Why are only those on "the right" narrow minded?
    26 May, 10:16 AM Reply Like
  • SoCalNative
    , contributor
    Comments (494) | Send Message
     
    Careful, you're going to make Vienna's head explode.
    26 May, 11:28 PM Reply Like
  • User 353732
    , contributor
    Comments (4910) | Send Message
     
    In every political system are the seeds of its own destruction because every system is ,in time, controlled by the ruthlessly corrupt, greedy and vain.

     

    Collectivism, in myriad disguises, is now the dominant system in the world.

     

    A popular revolt against collectivism , via elections where permitted, is now being seen in many parts of the world: India is the most notable example in Asia (indeed the world)and Mexico in Latin America but the revolt is also spreading to Europe and will come to the US.
    Australia and Canada are now in the vanguard in the West in the rediscovery of personal and property rights.
    In China, where elections are neither free nor fair, domestic terrorism and civil unrest are increasing and the Communists must either become even more brutal domestically and aggressive internationally or see their authority erode rapidly since they are not prepared to give up their political monopoly.
    26 May, 08:35 AM Reply Like
  • roojoo
    , contributor
    Comments (126) | Send Message
     
    @353732, Not that it is in any way related to the original article, but it is short sighted to link domestic terrorism in China, which happens by a minority not-really-chinese population in the North West which has been unhappy for decades, to declining support for the CCP. That's like saying the Boston marathon bombing is a sign of declining support for Obama.

     

    European elections will change very little in the short term. The status quo still holds a vast majority of the 751 seats.
    26 May, 09:48 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8661) | Send Message
     
    Did the European Union form because your average European plumber, bus driver or store clerk demanded it?

     

    No...no it didn't.

     

    The elites vs. the common people...that's all this is.
    26 May, 09:43 AM Reply Like
  • 11146471
    , contributor
    Comments (840) | Send Message
     
    Europe's bureaucrats (mostly German) have failed in their economic recipe. On the contrary US federal republic has succeeded where EU/Germans have failed!
    26 May, 11:55 AM Reply Like
  • Continental Kid
    , contributor
    Comments (211) | Send Message
     
    As soon as Germany decides it wants out the Euro....which my guess would be within 5 years...the currency is doomed....Germany FOR BETTER OR WORSE is the only economy of scale.....in the EU.....and they will tire of carrying the water for all...
    26 May, 07:46 PM Reply Like
  • Palladium31
    , contributor
    Comments (477) | Send Message
     
    Germany will continue to "carry the water" because if Germany leaves the Euro the Deutsche Mark will skyrocket and German manufacturing will collapse.
    26 May, 10:19 PM Reply Like
  • Matthew Davis
    , contributor
    Comments (3903) | Send Message
     
    Why would German manufacturing collapse? Wouldn't they be in a better position to negotiate free trade deals that benefit themselves instead of Greece, Italy or Spain?
    27 May, 09:53 AM Reply Like
  • roojoo
    , contributor
    Comments (126) | Send Message
     
    Not if Italy and Spain are big export markets of theirs.
    28 May, 07:52 AM Reply Like
  • Matthew Davis
    , contributor
    Comments (3903) | Send Message
     
    Spain and Italy can't support their own populations.
    28 May, 10:46 AM Reply Like
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