ECB Vice President Says ‘Personally’ Concerned by Far-Right Rise

(Bloomberg) -- European Central Bank Vice President Luis de Guindos said he’s concerned about the rise of the far-right across the region.

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“I’m concerned by illiberal movements that put into question the European integration process,” he told a conference in Santander, Spain, highlighting that he was speaking in a personal capacity. “In this world of renationalization, return to domestic issue, the only way is to be more united.”

Guindos — a former Spanish finance minister — spoke a week after European Parliament elections that saw far-right parties gaining in the euro area’s biggest economies. A snap vote taking place in France later this month could see Marine Le Pen’s National Rally form the next government there, leading to a so-called cohabitation with President Emmanuel Macron.

Guindos also said:

• Market repricing has been “orderly, not of an extreme impact”

• “We do not have any type of predetermined path for interest rates”

• “The disinflation process has been very intense, and all the indicators we have of underlying inflation indicate a deceleration of it”

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