Tags: Germans | Dump | Euro | Deutschmark

Poll: Most Germans Want to Dump Euro, Return to Deutschmark

By    |   Tuesday, 06 Jul 2010 08:54 AM

More than half of Germans reportedly want to go back to the deutschmark, 11 years after they dumped it for the euro.

Some 51 percent say they now detest the single currency, according to a survey by the U.K. Daily Mail Online.

Just 30 percent of those polled rejected the idea of going back to the fabled “D-mark,” while another 18 percent were undecided, the Hamburg-based institute Ipsos found.

German confidence in Europe's single currency has been torpedoed in recent weeks by the Greek debt crisis and the euro zone's ensuing bailout of Athens with Germany pledging the most to keep the European project alive.

Meanwhile, billionaire investor George Soros has said the euro is a flawed construct and Germany's budget savings policy is making it harder for other countries in the currency bloc to regain competitiveness.

Soros said the euro was an incomplete currency from the start as the European Union's Maastricht Treaty established a monetary union without a political union.

"The euro is a patently flawed construct," said Soros, who earned $1 billion in 1992 by betting against the British pound.

But European Central Bank President Jean-Claude Trichet has said the euro isn't in danger and remains a credible currency. "It it clear. The euro is not in danger," Trichet told German daily Frankfurter Allgemeine Zeitung last month.

"The euro is a credible currency whose inflation rate has been below 2 percent for more than eleven years," Trichet said.

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More than half of Germans reportedly want to go back to the deutschmark, 11 years after they dumped it for the euro. Some 51 percent say they now detest the single currency, according to a survey by the U.K. Daily Mail Online. Just 30 percent of those polled rejected the...
Germans,Dump,Euro,Deutschmark
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2010-54-06
Tuesday, 06 Jul 2010 08:54 AM
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