by Ambrose Evans-Pritchard 5:00PM GMT 10 Mar 2013 "Political revolt against the euro construct has spread to Germany. A new party led by economists, jurists, and Christian Democrat rebels will kick off this week, calling for the break-up of monetary union before it can do any more damage. "An end to this euro," is the first line on the webpage of Alternative fÃ¼r Deutschland (AfD). "The introduction of the euro has proved to be a fatal mistake, that threatens the welfare of us all. The old parties are used up. They stubbornly refuse to admit their mistakes." https://www.alternativefuer.de/ - German, English in a few days They propose German withdrawl from EMU and return to the D-Mark, or a break- away currency with the Dutch, Austrians, Finns, and like-minded nations. The French are not among them. The borders run along the ancient line of cleavage dividing Latins from Germanic tribes. "The Italian election shows how dangerous the whole euro crisis really is. Whether countries can and will pay back their debts is dependent on the unpredictable voting choices of their peoples," he said. Some say Germany is "winning" because its firms are conquering Club Med markets with a rigged exchange rate, but that is a Pyrrhic triumph. [ - winning at too great a cost ] Latins will not tolerate this, once they grasp that the "gains" of their internal devaluations -- ie 1930s wage cuts -- are dwarfed by the greater losses of a wasted youth. There are no winners. Each country is blighted in turn, and in different ways. Like Goethe's Sorcerer's Apprentice, they have launched an experiment they cannot control. The broom has a fiendish will of its own." . . . "Political revolt against the euro construct has spread to Germany" says it all when the citizens of the country who's said to have benefitted most from the EMU are turning away from it: "The latest ZDF poll shows that 65pc of Germans think the euro is damaging, and 49pc think Germany would be better outside the EU." "The appeal of German exit is obvious. It is the least traumatic way to end the 20-30% misalignment between North and South, the cancer eating Europe. Club Med keeps the euro. It enjoys instant devaluation, while still able to uphold euro debt contracts." http://www.telegraph.co.uk/finance/...party-is-a-nasty-shock-for-Angela-Merkel.html some questions: 1: does the EU continue to exist without the EMU ? 2: would Club Med members adopt 'their' euro ? 3: would they re-adopt their original currencies ? 4: would Club Med in fact 'uphold debt contracts' or simply default on them ? or just a storm in a tea cup, the EU and EMU will continue, as does the debate that's been going on for years - the EU/EMU will/won't fail but 5: is the best idea to keep the EU but get rid of the EMU/euro ? 6: but if they get rid of the euro, does the EU collapse ? and 7: which scenario is the most beneficial to currency traders ?