Analysts at Standard Chartered suggest that as the EU is about to lose a member state for the first time, several other forces threaten the foundations of the European project.
Key Quotes
“The migration crisis is putting pressure on one of the core EU principles: the free movement of people. Italy, a founding member, is governed by a Eurosceptic coalition and has defied the EU with a non-compliant budget.”
“Poland and Hungary have also defied Brussels with alleged backsliding on democratic principles, prompting the EU to initiate Article 7 procedures for the first time – against Poland in December 2017 and Hungary in September 2018.”
“More broadly, the rise of Eurosceptic, far-right political movements is calling into question fundamental EU values including political freedom and rule of law – characteristics that have defined modern liberal democracies. Hungarian Prime Minister Viktor Orban famously claimed in a 2014 speech that his ambition was to build an “illiberal state”.”
Share
