Sunday, April 28, 2013

German finance minister calls anti-euro party's policy "insane"

A core policy of a new anti-euro party was criticized as "economically insane" by German Finance Minister Wolfgang Schaeuble in an interview published on Sunday.

Support for the Alternative fuer Deutschland (AfD), which wants Germany to quit the euro and reintroduce the deutsche mark, is at 2 percent, according to a survey by Emnid pollsters also released on Sunday.

"For Germany, it would be economically insane to exit the euro," Schaeuble told German weekly Focus, adding that Switzerland's struggle with its soaring franc proved how problematic it could be to have a stronger currency.

Schaeuble warned support for the AfD could still cost the ruling coalition crucial votes in September's elections.