Germany’s New Anti-Euro Party (10)

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.”

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Afternoon Update:

12:02 pm EDT, March 10th, 2013 — Greek and Turkish FMs see possibility of Aegean settlement but via different routes

12:03 pm EDT, March 10th, 2013 — Head of Greek privatization fund, Finance Ministry general secretary resign over power plant charges

12:04 pm EDT, March 10th, 2013 — Migration dream over for young Pakistani

12:05 pm EDT, March 10th, 2013 — Election costs Italy another downgrade

12:06 pm EDT, March 10th, 2013 — European central bank’s decision to stand pat begs question whether rate cut would help

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