Bundesbank President Nagel says he is concerned about far right's rise
The AfD surged into first place in Saxony-Anhalt on a platform that includes leaving the European Union, curbing migration and restoring ties with Moscow. Its success sent a warning to other European leaders battling slow growth and disillusionment with mainstream politics.
German Bundesbank President Joachim Nagel said today (10 September) he is concerned about the rise of far-right parties in Europe, following the Alternative for Germany's election success in the eastern state of Saxony-Anhalt.
"What does this make with our country, with our society, the values we are sharing? Some of these concepts are self-defeating in an economic sense," Nagel said, speaking at a European Central Bank press conference in Berlin.
The AfD surged into first place in Saxony-Anhalt on a platform that includes leaving the European Union, curbing migration and restoring ties with Moscow. Its success sent a warning to other European leaders battling slow growth and disillusionment with mainstream politics.
Keep updated, follow The Business Standard's Google news channel
"Is this helpful to attract foreign investors to come to this country? Definitely not. I think they will be reluctant, they will shy away from doing business here. So yes, I'm concerned," Nagel said.
AfD describes the euro as a failed system and calls for Germany to leave the common currency.
"The euro has never been as popular as it is in Europe and in the euro area in particular," ECB President Christine Lagarde said, after the bank raised interest rates on Thursday for the second time this year.
According to the spring Eurobarometer, 82% of respondents in the euro zone support the common currency and 74% in the European Union, which is the highest level for the EU since the euro's introduction in 2002.
