The results of the European parliamentary election are likely to lead to less am...
BRUSSELS - The results of the European parliamentary election are likely to lead to less ambitious euro zone integration plans and set Italy up for more clashes with the European Commission over its fiscal policy, euro zone officials said on Monday.
“Euro zone integration was not mentioned during the election campaign. It was not an issue, while climate change, migration and social issues were - and this is what is on politicians’ minds,” one euro zone official said. French President Emmanuel Macron was the champion of a large euro zone budget, financed from dedicated taxes, that could serve as a fiscal capacity complementing the monetary policy power of the European Central Bank.
“Macron’s case is weakened, so progress on the budget could become even slower than it already is,” a second euro zone official said. “Salvini’s success and policies are likely to give many northern countries an excuse to say that deeper integration, especially when it comes to EDIS, must be put off until Italy puts its own house in order,” a third official said.
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