News

ASML Warns of Potential Risk with Far-Right Victory in the Netherlands

1 Mins read

Chip-equipment maker ASML has expressed concern about the potential impact of a far-right party’s victory on its staffing and the hiring of skilled workers. ASML, a crucial player in the global chip supply chain, provides essential ‘lithography’ machines for semiconductor manufacturing to companies such as Taiwan Semiconductor Manufacturing, Samsung Electronics, and Intel.

However, the electoral success of Geert Wilders, the Dutch far-right leader known for his strict anti-immigration policies, has raised unease among Dutch tech companies like ASML that rely on foreign workers.

“Any restrictions on knowledge workers or international students, who are important to our industry, would be undesirable,” stated an ASML spokesperson.

While Wilders’ Freedom Party has secured the most seats in the Dutch parliament, it remains uncertain if he can form a governing coalition and become prime minister. Additionally, Wilders’ party has also called for a referendum on EU membership, which could have significant implications for the Netherlands and Europe as a whole.

Currently, traders appear skeptical about the likelihood of such a move, as the euro is trading at similar levels to before the election. Analysts at ING believe that due to the overall positive public opinion on Europe within the Netherlands, a significant shift in the euro or a ‘Nexit’ is unlikely.

Related posts
News

AI Revolutionizing Smartphones

2 Mins read
Artificial intelligence is poised to revolutionize smartphones, and this major theme will be front and center at the upcoming Mobile World Congress…
News

Domtar Paper Operations Idling

1 Mins read
Domtar, a leading producer of uncoated freesheet paper, has made the decision to indefinitely idle paper operations at its Ashdown mill located…
News

Indie Semiconductor's Share Fall

1 Mins read
Indie Semiconductor’s shares took a hit following disappointing fourth-quarter sales and first-quarter revenue projections that fell short of analyst forecasts. Decline in…

Leave a Reply

Your email address will not be published. Required fields are marked *