About half of the world population is called to the polls in this historic election year. So are roughly 400 million voters in the European elections in June 2024, setting the direction of the European Union until the end of this decade.
New actors emerge and give us a sneak peek into the future of EU policymaking. Gatekeepers in powerful positions are willing to disrupt business as usual for short-term political gain. State aid has become an increasingly important ingredient in the European policy mix. And from trade rules, over intellectual property provisions, to foreign direct investment reviews, a toolbox exists to shake up decision making and shake down investors.
Political innovation: Charismatic figures replacing long-term programmes
Uncertainty is the theme of the day. With political parties realigning according to new and interests being represented in more fragmented ways, the definition of the European project is at stake. Unpredictable patterns, empowering fringe movements on the margins of big tent parties and amplifying the noise made by extremists placing themselves outside of normal politics, are taking center stage – mirroring movements seen in backsliding democracies. Electoral alliances on the radical and far right are bolstering their forces, may become kingmakers in the Brussels political arena, while exposing the legislature to their erratic behavior and infighting. Taking ostensibly conflicting positions, we can no longer assume right of center parties are pro-business, or pro-NATO, for that matter.
The return of geopolitics means that in the European political space, government interventions into the business world are on the rise. At the societal level, we see a shift towards more polarization, and populist movements are growing across key EU member states. There are no more guarantees on investment security and the rule of law, key tenets of European politics for decades. This shift is now forcing corporate leaders to understand and integrate a new type of geopolitical, societal, and political logic into their strategic planning and stakeholder engagement strategies more than ever before.
As Europe decides, you need to act. To set the stage for your success in Brussels – and beyond – for the next five years, you need insights that matter. Turning uncertainty into political guarantees is essential for your European future. You don’t need more information – you need recommendations that help you deliver results. Informed action is key to make a lasting impact. And at FGS Global we are ready to help you achieve just that.
New players act as kingmakers. Increasingly dominant fringe parties hold the key to majorities. The definition of the European project is up for debate. One thing is for sure: unpredictability is on the rise.
New ideas become part of the conversation. Previously outlandish proposals are gaining traction.
And established values on civil liberties, human rights, and the freedom of corporations on the single market are coming under threat.
Key take aways for our clients
Key actors in Brussels will change, existing networks will be reshaped. Expect long-established political groupings to shift and change – both in terms of party membership and European political outlook. A realignment of values and visions is coming.
The post-election policy vacuum is an opportunity to position new ideas and pitch creative solutions. New political actors are looking to make an entrance, established actors want to leave their mark. Well-prepared companies and decision-makers can shape the new political agenda through thought leadership and executive positioning.
The old playbook is out of the window. The 2024 elections will disrupt the current stakeholder economy and reshape the conversation. Old tactics and well-worn practices will no longer cut it to reach the right audiences. To broaden and deepen your outreach you need to have the right tools at your disposal – in Brussels and at home.
Our team of communications and policy experts combines geopolitical and regulatory expertise with a corporate and capital markets perspective to help companies navigate these uncharted waters. We can help you envision the political future, assess your impact, and adjust corporate strategies to meet stakeholder expectations. With decades of government and consulting experience, our team spanning across Europe can provide unique insights into stakeholder perception and reputation to help companies engage stakeholders effectively – especially in a year of change.
