Islam Times - German academics found anti-euro party ahead of polls

Islam Times - A group of German economists and academics have founded a new political party, which is opposed to the European single currency, euro.

The anti-euro party, dubbed Alternative for Germany, held its founding conference in the German capital, Berlin, on Sunday to adopt a program and vote for a party board.

The main goal of the party is the “orderly dissolution” of the euro as its leaders believe the formation of the euro was a historic mistake.

“Because of the euro, people in southern Europe don't hesitate to express their disgust toward Germany, using old Nazi comparisons,” party founder Bernd Lucke said in a speech addressing about 1,500 party members.

“The euro was a failure and it would be bad if we continue to believe in this fairy tale,” Lucke said, adding, “If the euro fails, Europe doesn't fail.”

The participants also voiced their opposition to what they described as unfair money transfers from taxpayers in Germany to assist recession-hit countries like Cyprus and Greece.

Analysts believe that Alternative for Germany could draw enough votes from German Chancellor Angela Merkel’s coalition to make it difficult for her to win in the country’s upcoming general elections, which will be held in September.

Oskar Niedermayer, a political scientist at Berlin's Free University, said, “There is space for an anti-euro party in Germany. So far this position hasn't really been represented in the German party system.”

However, the party is unlikely to win widespread support in Germany’s upcoming votes as most Germans still favor euro, according to opinion polls.