In short, the risk with the multiple elections and possibly a mushroom of referenda in Europe is that we cannot rule out that voters will once again turn against the mainstream parties, shifting towards less international cooperation, away from free trade and away from open borders and migration. Brexit is perhaps the best example.
Prime Minister May’s powerful speech on 17 January set the agenda for a hard Brexit, on the ground that no deal is better than a bad deal, regardless of the short-term cost to the economy.