Spiegel: Opposition to Euro Grows… in Germany

From Spiegel Online – Opposition to the Euro Grows in Germany:

Surveys show that many Germans are worried about the future of the euro, but the country’s political parties are not taking their fears seriously. The number of grassroots initiatives against the common currency is increasing, and political observers say a Tea Party-style anti-euro movement could do well…

Unnerved by shaky, debt-ridden countries and bailout packages worth billions, the majority of Germans want the mark back. In a survey conducted in early December by the polling firm Infratest dimap, 57 percent of respondents agreed with the statement that Germany would have been better off keeping the mark than introducing the euro. Germans, it seems, are gripped once again by their historic fear of inflation: According to the Forschungsgruppe Wahlen polling institute, 82 percent of the population is worried about the stability of their currency…

For the time being, no political party has focused on the currency concerns…

“The days of the euro as a single currency for countries from Ireland to Greece are numbered, if no debt refinancing with creditor liability is pushed through now,” says Adenauer, who is the head of a German association of family-owned companies. “I’m amazed that political parties and large industry associations are not openly saying this.” Adenauer is sure that his grandfather would also see things this way. “He would look into the question of whether the common currency is really necessary for everyone in this situation, or whether the pressure to adapt will end up being too big and the EU will suddenly find itself politically damaged.”…

Henkel is in a hurry. Just in time for the euro crisis, the one-time enthusiastic supporter of the common currency has now written an anti-euro book titled “Rettet unser Geld!” (“Save Our Money!”)…

Henkel has a mission: He wants to divide the euro. All of the “olive countries” — as Henkel dubs the Greeks, the Italians and the French — should pay in southern euros in the future, he says. The north — in other words, primarily Germany — would pay with the northern euro…

Today, now that the euro is threatening to fail, Brunner feels vindicated. “A currency union cannot work without an economic government,” he says…

Read more.

This entry was posted in ECB/IMF, Economy, EU, Euro / Sovereign Money, Geopolitics and tagged , , , , . Bookmark the permalink.

One Response to Spiegel: Opposition to Euro Grows… in Germany

  1. Pingback: Germany owns Europe: during boom bankers went out way to get dirty, needed to go abroad to (Vanity Fair/Michael Lewis) |

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