Germany’s former finance minister expressed his concerns about an upcoming election at the EU this year, saying voters would only shun populist politics if the benefits of globalization are fully explained to them.

European citizens are due to vote on new representatives for the European Parliament between May 23 and 26. However, years of economic stagnation and long-lasting crises over immigration in Europe have translated into a push toward anti-establishment parties across the continent.

As a result, non-mainstream politicians have gained ground in national elections over the last few years and are likely to see further gains at this EU-wide vote.

“It’s a real danger for the next European Parliament,” Wolfgang Schaeuble, president of the German Parliament and former finance minister, told CNBC’s Annette Weisbach.



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