Allianz CEO Says ‘Political Elite’ Risk Losing Power in 2024 Elections

Allianz chief executive Oliver Bäte stated that members of the “political elite” risk losing their power and influence in the upcoming 2024 elections across the globe.

“You’ve seen recent elections in the Netherlands, you’ve seen it in France, and societies are polarizing because our leaders are not addressing the needs of the people,” he said, according to CNBC.

“Italy elected a party with neo-fascist roots, Hungary re-elected Viktor Orbán, and the far-right Sweden Democrats took over 20% of the votes in a general election, he added. “We have an increasing detachment of the political elite from the working class and the people that actually go to work every day, and that, I see as the number one risk for our societies.”

“And remember, this year a lot of people are going to vote, so we need to make sure that they vote for the right things and are not just venting anger.”

Prime Minister Alexander De Croo of Belgium, the country currently holding the EU presidency, believes democracy will be at stake in 2024.

“If 2024 brings us ‘America first’ again, it is really more than ever ‘Europe on its own,'” he said.

2024 elections will put “democracies and liberties” to the test, Croo stated. “Not only with elections for this house, but equally for the U.S. Congress and the American presidency.”

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