Johan Van Overtveldt: “Institutional uncertainty in the United States fuels general uncertainty”

On the De Ochtend news programme on Radio 1, MEP Johan Van Overtveldt warned against the additional uncertainty that the American presidential elections will entail. “The lack of clarity about exactly who will become President can really be missed as much as a toothache these days.”

“At present, there is already a lot of uncertainty due to the coronavirus crisis and Brexit. If we now have major institutional uncertainty from the country with the world’s biggest economy and with a currency that still largely dominates financial and economic affairs, it will only fuel general uncertainty.”

Currently, it looks like Joe Biden is likely to be the next President. However, it should be borne in mind that if Donald Trump loses, he might still physically stay in the White House. This creates a situation in which such a large country almost becomes a banana republic.

It is important for the European Union that we once again have opportunities to find compromises with regard to NATO and trade relations. “With someone like Joe Biden in the White House, there is a greater chance of that succeeding. There is openness and the possibility of measured dialogue,” Johan Van Overtveldt emphasises.

Johan Van Overtveldt moreover has the following to say about the federal government’s new securities tax 2.0: “It’s odd to introduce a tax increase during the coronavirus crisis and the deep economic crisis following it. That will not contribute to the necessary recovery.”