DeepSummary
The podcast episode discusses the results of the recent European Union elections, where far-right parties made significant gains across several countries, particularly in Germany and France. It examines the potential implications of this shift towards the right on issues like immigration and green policies within the EU.
In Israel, opposition politician Benny Gantz resigned from the emergency government, citing disagreements with Prime Minister Benjamin Netanyahu's handling of the war in Gaza. This departure is expected to change the dynamics of the coalition by removing a counterweight to the ultranationalists.
The episode also explores the declining performance of environmental, social, and governance (ESG) funds, with investors pulling billions of dollars out of these sustainability-focused funds due to factors like rising energy costs and political pushback against ESG investing.
Key Episodes Takeaways
- Far-right parties made significant gains in the European Union elections, particularly in Germany and France, which could influence policies on issues like immigration and climate change.
- Benny Gantz resigned from Israel's emergency government, citing disagreements with Prime Minister Netanyahu's handling of the war in Gaza, which could change the dynamics of the coalition.
- Investors are pulling billions of dollars out of ESG (environmental, social, and governance) funds due to factors like rising energy costs and political pushback against sustainability-focused investing.
- The rise of far-right parties in the EU could lead centrist parties to water down ambitious policies on issues like migration and emissions reduction.
- The performance of ESG funds has lagged behind conventional equity funds, with the surge in oil and gas prices during the Russia-Ukraine conflict contributing to their decline.
- The appointment of hardliners as presidential candidates in Iran's upcoming election suggests skepticism among voters about the potential for real change.
- Marine Le Pen's far-right party in France emerged as a major winner in the EU elections, prompting President Macron to call for early parliamentary elections.
- The gains made by far-right parties in the EU could make it harder for France and Germany to push for further integration within the bloc.
Top Episodes Quotes
- “Since the beginning the year, about 40 billion of cash has flowed out of ESG sustainable funds around the world.“ by Patrick Temple West
- “Marine Le Pen, whose Rasamblanc nationale far right party won over 30% of the vote in France and thrashed President Emmanuel Macron, whose Renaissance party got half that level. She was the big winner and Macron was the big loser.“ by Andy Bounds
- “They have an influence in the sense that they pull the centre parties over towards them because they're worried about losing more votes than them. So on issues like migration, on issues like cutting emissions, you will find that the centers parties start to water down some of the ambitious policies they've been implementing for the last five years.“ by Andy Bounds
- “Gantz said he was stepping down because he didnt approve of how Netanyahu was handling the war in Gaza. He also called on Netanyahu to set a date for early elections.“ by Kasia Brusalian
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Episode Information
FT News Briefing
Forhecz Topher
6/10/24
Far right parties make significant gains in the European Union elections, opposition politician Benny Gantz has resigned from Israel’s emergency government, and Iranian authorities have disqualified prominent moderates as candidates in the snap presidential election. Plus, global investors are turning their backs on sustainability-focused stock funds.
Mentioned in this podcast:
Far-right parties make significant gains in European parliament elections
Investors pull cash from ESG funds as performance lags
Iran promotes hardliners as presidential candidates
Benny Gantz resigns from Israel government over Gaza
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Denise Guerra, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Our intern is Prarkiti Panwar. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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