Will Germany leave EU like UK? Dexit is the new Brexit

Germany’s far-right Alternative for Germany party proposed that the country should leave the European Union like the UK. The move is widely being called “Dexit” just like UK’s exit from the EU was termed “Brexit”.

German finance minister Christian Lindner said that the country’s economy would be ruined as the EU single market is of “utmost importance” for Germany- Europe’s biggest economy. This would be the worst possible scenario for export-dependent Germany, he said, adding, “It would ruin our economy. This is why we have to tell people, OK, you maybe are not in line with government policies but this is no reason for changing the complete system and for changing what our wealth is based on.”

The sentiment has been echoed by leading politicians and business executives who warned that the AfD’s vision of a Germany’s EU exit would be disastrous for economic activity but AfD co-leader Alice Weidel called Brexit a “model for Germany” while proposing a referendum to “let the people decide, just as Britain did.”

Although Christian Lindner conceded that Germany’s competitiveness is “not as good as it should be”. We are preparing proposals over the next couple of months on how best to boost it “especially in the financial sector”, he said.

But I am “very optimistic” about the economic outlook as we expect an upturn “very soon”, he said.

Is AfD supported by Germans?

The anti-immigrant party is at second place behind the main opposition conservatives in opinion polls in recent months as German Chancellor Olaf Scholz’s three—party alliance has seen its support plunge.

How’s German economy doing currently?

Germany is the only Group of Seven economy to shrink last year. The country’s two largest lenders Deutsche Bank and Commerzbank have predicted another contraction for 2024 while the government’s council of economic advisers pegged growth at just 0.4%.