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Germany's Rising Anti-Euro Sentiment
In recent days, FX desk chatter has been of rising concerns over "Germany’s New Anti-Euro Party." 'The Alternative for Germany' party is set to run in the upcoming parliamentary elections in September with a clear goal: "the dissolution of the EUR in favor of national currencies or smaller currency unions." It also demands an end to ESM payments. As evidenced by the recent vote in Italy, voting intentions in Europe are not just ultra-left or ultra-right wing anti-European, but increasingly mainstream. "Democracy is eroding. The will of the people regarding (decisions relating to the EUR) is never queried and is not represented in parliament. The government is depriving voters of a voice through disinformation..." Ultimately, as Der Spiegel notes, however, the party's success will likely have more to do with the state of the common currency as the election approaches. Should the crisis flare up, so too could anti-euro sentiment. That sentiment in Germany now has a political home.
Anti-euro political parties in Europe in recent years have so far tended to be either well to the right of center or, as evidenced by the recent vote in Italy, anything but staid. But in Germany, change may be afoot. A new party is forming this spring, intent on abandoning European efforts to prop up the common currency. And its founders are a collection of some of the country's top economists and academics.
Named Alternative für Deutschland (Alternative for Germany), the group has a clear goal: "the dissolution of the euro in favor of national currencies or smaller currency unions." The party also demands an end to aid payments and the dismantling of the European Stability Mechanism bailout fund.
"Democracy is eroding," reads a statement on its website (German only). "The will of the people regarding (decisions relating to the euro) is never queried and is not represented in parliament. The government is depriving voters of a voice through disinformation, is pressuring constitutional organs, like parliament and the Constitutional Court, and is making far-reaching decisions in committees that have no democratic legitimacy."
The sentiment, of course, is hardly new. Euro-skeptics are everywhere these days, particularly in those southern European countries that have been hit hardest by the crisis that continues to plague the common currency. And even in mainstream parties, concerns about the path on which the EU currently finds itself are common. But in Germany, as elsewhere in northern Europe, the most vocal critique of the euro has tended to come from right-wing populist parties.
Prominent Supporters
Alternative for Germany appears to be different, though it has yet to produce a party manifesto. Its impressive list of prominent supporters includes a large number of conservative and economically liberal university professors. The most notable name on the list is Hans-Olaf Henkel, the former president of the Federation of German Industries, but it also includes such economists as Joachim Starbatty and Wilhelm Hankel, who were part of the group that challenged Greek bailout aid at Germany's Constitutional Court.
Main initiator Bernd Lucke, a professor of macro-economics from Hamburg, was a member of Chancellor Angela Merkel's Christian Democrats for 33 years before leaving the party in 2011 as a result of euro bailout efforts. "The current, so-called rescue policies are exclusively focused on short-term interests, primarily those of the banks," Lucke told the Frankfurter Allgemeine Zeitung this week.
Alternative for Germany has not yet formally become a political party, though it reportedly plans to do so in the middle of April. Even then, however, it is not yet certain that the party will be able to collect the requisite number of signatures in time to be included on the ballot in general elections this autumn -- a minimum of 2,000 in each of Germany's 16 states or 0.1 percent of each state's population, whichever is lower. "We will make that decision based on the support we receive," Lucke told the FAZ. "But we have been overwhelmed by the public's reaction thus far."
A Political Home
Even if the party does get on the ballot, it remains unclear whether it will attract significant support. So far, it remains a single-issue party -- and even on that single issue there is a lack of clear consensus on exactly how to proceed.
Still, with concern in Germany growing that the country has become the de-facto paymaster for the rest of the euro zone, Alternative for Germany could attract a fair number of protest votes from frustrated conservatives. Judging by the increasing difficulty Merkel has faced in pushing euro bailout packages through parliament in Berlin over the last 15 months, the level of frustration on the center-right could be growing. Indeed, Lucke has said that he is in touch with a handful of euro-skeptic parliamentarians from the Free Democrats, Merkel's business-friendly junior coalition partner.
Ultimately, however, the party's success will likely have more to do with the state of the common currency as the election approaches. Should the crisis flare up, so too could anti-euro sentiment. That sentiment in Germany now has a political home.
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Political speech is dangerous.
We should outlaw it.
</sarc>
Of course, national currencies are a, "good thing". However, Germans are already quite used to, "not being allowed to say certain things in the political arena". We'll see how far this gets to go. I have high hopes.
That current conditioning is shameful.
How about not being allowed to do certain thinks like...
18K cut from Whathouse tour budget but Beyoncee and Adele to preform for Mochelle's 50th birthday?
http://www.dailymail.co.uk/tvshowbiz/article-2290937/MoS-Diary-Adele-lan...
Oh well it's all lip-synching now, all the time, anyhow
But beware of the old band-wagon Peter Pipers:
The problem with the movement will be gains for neonazi parties such as REP and NPD.
I would rather puncture my eardrums with an icepick that listen to those 2 fat bitches sing. funny how Chewbacca acts like the wife of an african dictator by hiring all of these hack entertainers to perform for her highness and sing her praises.
It it good to be the queen, not that I'd want it but she sure seems to be making the most of the whole deal.
If Mrs K was predident I'd sure as hell lounge about on the couch, too.
And betcha they'd send me off on "state vacations" just to get me the hell out of the place from bothering folks, general mayhem and being the adolescent pest that I'm told I am.
SecState: Mr Ambassador, I'd like to introduce you to Mr K, the predidents husband
Ambassador from Wherever: Pleased to meet you, Mr K
K: (big mischevious grin, wiggling pointer finger at Ambassador) Yeah, me too. Hey, listen, I got this idea.... You ever....
Well, when you put it that way...
My car blew a water pump and I had to carpool with a guy from work for a night shift. About halfway there (20 minutes) the conversation ran out and he cranked up the tunes. His selection: Adele, complete with 52 year old man-screeching. It took everything I had not to bust a gut as this guy was SERIOUS. Glad for the early winter darkness, I bet I looked like a saw a fucking alien.
In retrospect, it is a haunting memory-depressing on many levels.
her 007 song was THE worst (kind of like the movie) and that's saying something
Just watched it two weeks ago from Amazon and I agree-the movie was terrible. It was easily the worst bond movie I've seen. I finished watching it and later that day NPR had a story about curbing gun violence by implementing biometrics. Weird.
Looks like happening in Italy, why not Germany? I hope USA in que.
What's this smaller currency unions garbage ?
Give me gold and silver and you can keep your fiat paper.
I hear tungsten is quite popular these days, too.
Yeah, like WTF is Buffet (Becky's Bud Buffet) doing with that massive position in tungsten rumored, anyhow?
that tungsten boggeyman campaign didnt last long now , did it?
Gold, Hundin;)
Although I admire their efforts, the (subjective) truth is that Germans are sheep.
There is almost a blanket ignorance of what is going on.
Germans are generally politically lazy, and very trusting of all authority.
That they call the evil, traitorous Merkel "Mutti" (Mum) should say everything.
As long as they can still afford beer, sausages and nice cars they will not rise up.
It can be very annoying sometimes, living here with almost no-one who understand me.
Thankfully ZH provides me with my daily dose of reality.
I wish them luck but think things must get much much worse before they have a real chance.
but if the rest of the world cannot afford their nice cars($60K for a fucking 5 series BMW,Euro at $1.40,global recession) will that affect their thinking?
Eventually for sure.
Without their exports they are screwed.
Oh, no, not a currency war!
What good is it to have exports to countries (PIFGIBS) who do not pay and need Target2 vendor financing?
Screw the PIFGIBS and sell the crap to CHina instead!
"and are very trusting of authority."
They had the highest scores on Milgram's obedience to authority experiments.
do germans have a site or a blog similar to zero hedge? i speak german and i'd like to see what the sentiment is like over there.
Check this one: http://deutsche-wirtschafts-nachrichten.de/
danke.
...
As an American living in Germany I can say with 110% certainty what you say is correct.
Germans are a very homogenous people. It is both their culture's greatest weakness as well as its greatest strength. Things never really "squeak" through parliment here like in the States and other Anglo countries. When big decisions have to be made, Germans traditionally vote en masse the same way. Outlawing nuke power plants ... it was almost unanimous to ban them. So no the Germans buy French, Czech and Polish nuclear power. That makes me wonder ... who probably have safer nuclear power plants -- the Germans or the French, Czechs or Poles. Oh well, Europe is such a big place that if one of those goes boom clearly Germany will be okay.
Anyways, until the Germans start having the same problems the Greeks and Spanish are there will be no call for change here. I love Germany, and I love Germans, I hope to spend the rest of my life here (I'm 25 right now) so I'm willing to commit to this place for a long time -- I just hope that the Euro blows up before the older generation who are vastly anti-Euro dies off.
"...if one of those goes boom..." - as you say, you are too young to remember Tschernobyl
what exactly happens in your opinion if "the Euro blows up"?
like, what would happen if Germany had again a West-Mark and an Ost-Mark?
Nothing bad. The Greeks & Spaniards would switch from Mercedes to donkey. Mercedes sharehlders (which are not by majority German) wpuld be a bit worse of. Germans would be better off!
Are you also willing to work for free the next 20 years? In order to pay for the PIFGOBS debt Germany needs to double its tax revenues for the next 20 years. this is without compounding interest.
"Germans are a very homogenous people." You must be living in a different Germany, one that has no Berlin, Cologne, Hamburg, Munich, Frankfurt, Duesseldorf, Hamm, Duisburg, Essen, Stuttgart...........really amazing how you get to find this "homogenous" Germany................Wiki
The United Nations Population Fund lists Germany as host to the third-highest number of international migrants worldwide,
https://en.wikipedia.org/wiki/Germany#Demographics
It's pretty obvious that you don't know anything about us Germans! Really nothing!
"Mutti" is pure contempt. "Brit-Abroad"....noone understands you in Britain.....come home to David Cameron, he loves you
Well, of course sheep are everywhere. There are some very compelling reasons why I no longer live in the UK, not least being that it is a horrible multi-cultural PC crazy police state.
Well, I beg to differ about "Mutti", if she is held in contempt so much why does she have such high acceptance/popularity ratings ?
This whole continent is well on the way to becoming a socialist cesspit.
the Euro is a voluntary construct amongst consenting nation states.
Whenever anybody wants to leave it they can; Greece, Italy, Spain or Germany and support its cost and consequences like a responsible political entity.
No big deal for democracy; very big deal for Corpocracy...
Mamma mia!
Corpocracy will use Copocracy to "sway" the public
Darling, you might read the small print before repeating that nonsense: There is no exit clause in the contract. Whoever wants to leave the Euro-Zone has to leave the EU too. Completely.
It micght be fun to do so, though – it would piss off the French tremendously. Just think of the "Latim Monetary Union" which was created by the French for economic domination of the rest of Europe (and failed miserably, giving us standardized gold coins to buy today).
noses.
The small print? It's treaties, and they can be changed
Who the fuck cares about contracts in the EU. If the German Bundestag does not approve cash for the ESM, the ESM is dead. Very simple.
with German nationalist sentiment running high I'm thinking that the NSDAP is going to pick up alot of seats in the Reichstag.
"JF: Okay. Ask yourself this: The Hadron Collider, okay? You’ve got two huge counter-rotating rings and they’re gonna spin up these particles and smash ’em together. Okay? I find that whole counter-rotating idea really weird, you know, suggestively weird. But the really weird thing to me is: Why is the first Christian Democratic Union Party Chancellor of Germany after Köhl a physicist? [Ed. note: he is referring to Angela Merkel.]
BR: Hm.
JF: Did you know that?
BR: I did not.
JF: She’s a Ph.D. in physics. [laughs]
BR: Okay.
JF: Why is she a Ph.D. in physics?
BR: A Ph.D. in physics.
JF: Yeah. Now, you know what a German Ph.D. is like, to get.
BR: I do.
JF: [laughs] You know, they don’t hand them out by any means and this, to me... Why is someone like that even in politics, but especially at that level? You know? This is not a Ph.D. in physics becoming premier of Somalia, you know. [laughs] This is a rather sophisticated nation, technologically. So that to me, you know... it’s another little indicator that we have to watch things over there very carefully."
http://chartistfriendfrompittsburgh.blogspot.com/2013/03/nazi-internatio...
The Hardon Collider?
One of them more than 4 minute experiments, no doubt.
Your wish would come true then.
ah-to dream
This is a moderate right wing party. Their political program is NOT facistic.
You can read it here: http://www.alternativefuer.de/programm.html
It's nothing special besides the monetary policy section. Everything else is a bunch of whitewashed lame stuff. They're an inch right of the currently ruling party, CDU, nothing more.
It's also definitely NOT a Libertarian party. They're just a bunch of mainline German conservatives who disagree on currency and a few technical details of taxation, subsidies and immigration.
This movement isn't going anywhere.
The German Libertarians are here: http://en.wikipedia.org/wiki/Party_of_Reason
Ich hatt einen Kameraden
https://www.youtube.com/watch?v=S1RqZHkm0pQ
German nationalist sentiment ? You are a joker........
What took so long ?
Mal sehen, oder aber, abwarten und Tee trinken.
Neocons and their collectivists buddies on the other side of the isle still have sufficient control of government machinery to take us to war... I know less about European politics... other than that they are louder... But I suspect it is no different there...
There is little question that a revolt is building on both sides of the pond... But I don't believe there is adequate time left to gather enough steam. On the other hand... and It is not that war has not always been insane... it has... But there has never been a time in history that nations have not used all the weapons at their disposal when faced with the prospect of being conquered... This time will be no different. Given this insanity has acquired new dimension... And it takes but a glance at the geopolitical landscape to see that war is coming.
When the smoke finally clears it may not much matter who is printing the money.
Bagholder Germany, or no Bagholder Germany?
How 'bout Baumholder, Germany? (Hehe)
You'd have to be a Vet who has done a tour in Germany to understand that one.
BLACK SWAN ???
Accrording to the latest polls, about 26% of the population could imagine casting their vote
for an anti-Euro party. The support is the greatest among 40-49 year old.
According to the magazin Focus we have to talk about 95% who could imagine casting their vote for an anti-Euro party.
The exact question was "Would you vote for an anti-Euro Party?"
http://www.focus.de/politik/deutschland/wuerden-sie-eine-anti-euro-partei-waehlen_void_636.html
Unfortunately you have to vote to see the result.
As an after thought... and thinking back to the article on Grillo... It would be a wonderful thing if the producers of the world took back control of their money from the parasitical banking class... And I don't believe the Germans to be anymore sheep like than we are... despite their stint with Adolf... Look who we have in the WH... And he was reelected... I lived in Germany for two years. They are an industrious people that, at the end of the day want to be paid for their efforts.
It would be a beautiful thing if the people of the world came to a sudden understanding of the true enemy... and as a single entity stood up and said we will no longer kill each other for the sadistic amusement of a handful of sociopaths and psychopaths most of whom do not have the balls to do their own killing.
But sadly, it is an amazingly easy task to set one group off against another... And you can identify with whatever group you like... white, black, brown, yellow, male, female, rich, poor, Muslim, Jew, Christian, old, young... We all have reason to hate...
I had a plan once for world peace. Each of us would get our own missile... At the appointed time we would fire them at the part of the world we hate most... Afterwards we would have peace. I always thought I would fire mine at Paris, France.
It is too easy to lead the world to war. And those who have worked and plotted to gain control would rather see everything destroyed than allow it slip from their grasp... IMHO
Is this on a par with UKIP's chances of forming the next British government?
One can only hope.
And just so it does not appear that I have missed the economics of the discussion, I think most of us that actually think about this stuff have wondered how it is the German people have stood by and allowed the EU to use them as a slush fund. On the other hand, if they went back to the Mark what would happen to their export market. The entire notion of a debt currency is a failed concept... It is little more than a carnival con.
Germany: New Golden Mark?
Germany is on the verge of seeing its capital base plundered from the inevitable dynamics of this tragedy of the commons. It should leave the EMU, reinstate the deutsche mark (DM), and anchor it to gold.
http://homment.com/4cjHZ9B2hU
Anchor the DM to the gold that's in the NY Fed's basement?...assuming it's actually there. Let us know how that works out.
Thanks for the link.
Read the article and I agree with the whole idea of bring back the D-Mark and anchor to Gold.
I also think that the EuroZone into two Zones with a Northern Zone(Germany etc) and a Southern Zone(France-Spain etc).
I would not be surprise that an event similiar to what I have mention above happens very soon and very quickly.
It will be fun buying goods priced in D-Marks backed with Gold........how many Chevrolets full of US Greenbacks will I need to trade for a Miele dishwasher ?
One major differenc ebetween Germans and Americans is that germans read history like crazy. I don't know if the deutsches yutes will learn from their grandfathers' mistakes but they read more so are in a better position to understand what's happening....imo.
When did Germans started reading history, last year. Go back to 19th and 20th century and show me some evidence.
Germans have written much of the history and philosophy... Hegel, Nietzsche... I have serious issues with it as it is very materialistic... But for intellectual depth it certainly outperforms much of what passes for scholarship today... I think a more relevant question so far as you are concerned is how much history have you read...
Visit a decent library....maybe your football stadium can be sold to buy one at your college ?
Otto West: Don't call me stupid.
Wanda: Oh, right! To call you stupid would be an insult to stupid people! I've known sheep that could outwit you. I've worn dresses with higher IQs. But you think you're an intellectual, don't you, ape?
Otto West: Apes don't read philosophy.
Wanda: Yes they do, Otto. They just don't understand it.
Euro has no provision in the current structure for any member to leave Euro. They have to make up as it goes along.
It was inconceivable that any would want to do so.
You mean european countries have little experience on ad-hoc treaties?
or did they build the cage properly locked?
The Germans are really Socialists at heart. They are also Nationalists. I'll admit they are excellent workers as well. Maybe they could come up with a political party that combines all three of these elements, Nationalist, Socialist, and Workers, under one banner. What would one name such a party I wonder?
probably Democrat
Oh, shit.
Fick Mich!
Lieber nicht !!
LM-AA-241! 'Limburger Greeting' on German license plate.
How about an anti-Fed party and secession of the states from the D.C. banksters. Better off without them. The US wouldn't have to worry because we have everything we need. The D.C. gangsters are causing the mayhem.
While Juncker is wetting his pants...
http://diariodigital.sapo.pt/news.asp?id_news=620269
Juncker: «Os demónios de uma guerra europeia estão apenas a dormir»Translation :
The demons of an European war are just sleeping
In the article he basically says : Europe must bow down to it's government and unite even more even if the people don't want it... or war will break out...
FUCK YOU JUNCKER!
Fiscal Union for the peasants is coming!
KING EUR! KING EUR!
How about a Northern EUR (NEUR) and a Southern EUR (SEUR), separated along the traditional, natural, cultural and lifestyle divide? The PIGS+ (Portugal, Italy, Greece, Spain...) use the SEUR, which is valued proportionately lower -- say, at 0.8:1.0 (USD:SEUR), compared to the 1.3:1 of the USD:NEUR.
Stick to solving it as a math problem, to reach a natural equilibrium and economic recovery. But then a lot of parasitical jobs would lost, wouldn't they?
About for the same reason that the US does not use two currencies
The whole point of the EUR is size - with it's benefits
Looks to me that the size is the problem.
Too many girlie-mans on the team.
not since 1865 anyway
The EU is not a country and there is no European demos. The right number of currencies is the number "demos" or optimal currency areas.
According to the magazin Focus we have to talk about 95% who could imagine casting their vote for an anti-Euro party.
The exact question was "Would you vote for an anti-Euro Party?"
http://www.focus.de/politik/deutschland/wuerden-sie-eine-anti-euro-partei-waehlen_void_636.html
Unfortunately you have to vote to see the result.
Just remember friends, if the Germans try to leave the Euro, the nazis win.
That's why they saved Hitler's brain.
http://www.imdb.com/title/tt0265870/?ref_=fn_al_tt_1
The Nazis won long ago when Britain and the USA copied their methods
This is good news. National sovreignty is nil in Europe and Brussels is to blame. The EU bureauocracy has decimated European nations, in the south, particularly and I am glad to see that some in Deutschland are waking up. I advocate debt repudiation for those countries whose volitility was caused by the unconscionable policies emanating from Brussels. The European Monetary Union was destined to fail from the start - at least to those of us who study macro-economics. We will all revert to a world made by hand because the fiat currencies themselves and the economic policies of those who promote fiat currencies are unsustainable. Die, central bankers, die!
This is good news. National sovreignty is nil in Europe and Brussels is to blame. The EU bureauocracy has decimated European nations, in the south, particularly and I am glad to see that some in Deutschland are waking up. I advocate debt repudiation for those countries whose volitility was caused by the unconscionable policies emanating from Brussels. The European Monetary Union was destined to fail from the start - at least to those of us who study macro-economics. We will all revert to a world made by hand because the fiat currencies themselves and the economic policies of those who promote fiat currencies are unsustainable. Die, central banksters, die.
Democracy is not eroding, it is turning into tyranny, as it always does.
It's encouraging to see the culpability of the CBs finally entering the psyche of the public at large. A shame we had to wait this long for it to happen, now the world is so screwed environmentally that we probably won't have very long to enjoy a CB free future. Good to have the last laugh though I suppose...