German Support for Break-up of Euro-Zone

In our post of 6th August 2011, we advanced the idea that the break-up of the Euro-Zone was profoundly in the British people’s national interest. The post also advanced the idea that it would be in Germany and Greece’s interest as well.

Now it seems the break-up idea is gaining ground in both those countries as well. The “Alternative for Germany” (AfD) is a new political party formed by a group of prominent businessmen, including the head of the German Federation of Industry, journalists and politicians who recommend breaking the Euro-Zone into smaller and more stable currency unions.

Germany would re-establish the D-Mark as recommended in our 6th August 2011 post. The AfD envisage that Finland, Austria and the Benelux could join (with a renamed D-Mark) while the other 11 mainly Mediterranean bordering countries could stay with the Euro, the Euro Central Bank itself moving to Milan.

The advantages to Britain are set out in our post, while in Germany a poll found support for the move from around 26% of Germans questioned from across the political spectrum with 65% believing that the Euro harms their economy. AfD intend to fight seats in the federal elections in September. We shall await the outcome with close interest.

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