Traditional parties see losses in European Parliament election

The European Union has elected a new Parliament that draws less heavily from the center-right and center-left parties that have traditionally composed the majority.

Returns show that centrists dropped from 53% to 43% of the Parliament, while euroskeptic and green parties made gains. This will be the first time in decades that the center-right European People’s Party and the center-left Socialists and Democrats will not control the majority bloc.

Euroskeptics captured about 24% of the parliament’s 751 seats — an all-time high, but not an enormous bounce from 2014 where they captured about 22% of the seats. Green and pro-environment parties performed well in a number of countries, too.

Despite the modest gains by euroskeptic parties, pro-EU forces will hold on to about two-thirds of the parliament’s seats.

“Judging by exit polls and first projections, the EU election will result in a more fragmented parliament with a slightly increased presence of euroskeptic right-wing parties,” economist Holger Schmieding told CNBC.

In the United Kingdom, Nigel Farage’s Brexit Party took the largest share in the election, beating out both the Labour Party and the Conservative Party with more than 31% of the vote. The party is euroskeptic and was founded this year in the lead-up to the elections.

“Never before in British politics has a party just 6 weeks old won a national election. If Britain does not leave the EU on October 31st, these results will be repeated at a general election. History has been made. This is just the beginning,” Farage tweeted.

Voter participation across Europe was the highest in 25 years, with more than 50% turnout. During the last election, there was 42.6% turnout.