Some possible trouble afoot for the current German political scene. Germany will be going through their elections around September of this year and while consensus still dictates that Angela Merkel and the CDU party still receives widespread support there is some momentum building against such consensual thinking.
Germany has had probably the most stable political scene all through the Euro crisis and certainly relative to its peripheral neighbours. Merkel has outlasted them all and also been prominent in some of her peers dismissals. However perhaps the tide is turning somewhat and it is time for Angela to sweat a little now.
There is a rise in anti-euro sentiment amongst some German voters who are appalled and worried of the bail out efforts occurring in Southern Europe as the majority of the bill is often footed by Germany. The same Germans who showed immense discipline in the good times and ensured their country was one the most efficient and competitive economies in the world all while watching their peripheral neighbours live it up on borrowed money while they suffered with incremental pay increases for so long. Germans were for a long time some of the worst paid workers in Europe.
This sentiment will come to a head in September and if the new party (Alternative for Deutschland) manages to get off the ground they could indeed attract some undecided and dis-enfranchised voters. Its Bepe Grillo style politics without the comedians in that the leaders of the party are some of the countries top economists and former CDU members and are advocating a break up in Eurozone currency unions.
Every country in the EZ has got its fair share of skeptics by now, however most of them have come from the Periphery nations who have struggled much more than Germany and often made up of either hard core hooligans (see golden dawn in Greece) or soap box populists like Grillo in Italy, what marks a difference is that Germany’s AFD is made up of more prominent and respected members and also Germany has not been on the receiving end of a viscous austerity regime enforced over the last few years. In saying that austerity is a way of life in Germany and strict fiscal discipline is how things have always been over there. Unfortunately for them their banking system was perhaps too generous with their loans to the periphery nations and left them over-exposed a fact that is not lost on many Germans.
Germany is not immune to the social troubles that have emerged in Europe since the beginning of the crisis, they just better at keeping it quiet than the more fiery nations in the South.