Every second German wants the D Mark to be reintroduced, according to a poll for Bild newspaper.
Two thirds or 67% of the Germans surveyed said they were worried about the stability of the euro.
A huge 77% said that had not benefitted from the introduction of the euro compared to only 17% who said they had.
Just 30% said they would today vote to adopt the euro and 60 % would vote against such a move.
35% said they would vote for a political party that promised to adopt the D Mark again.
Although Germany’s export sector has benefitted from the euro, the rest of the economy has not. The poll for Bild by YouGov Institut underlines the negative impact of the euro for the vast majority of Germans.
Real wages have fallen by 4% compared to the year 2000 while consumer prices have risen. Also, Germany’s federal and regional governments are mired in unprecedented mountains of debt. Nevertheless, the financial sector and EU is pressing Germany to accept liability for all of the eurozone’s outstanding and constantly increasing debt. So, the pain is just beginning for Germans.
For Germany – and other eurozone economies — to grow again without switching over to a war time economy, a radical correction is needed and some economists and investors are arguing national currencies need to be adopted.
Politicians in Germany can take heart from the fact that they will enjoy the support of significant numbers of people if they were to reintroduce the D Mark and set the eurozone back on the path to growth.
Reintroducing the D Mark might even keep the CDU in power as it has to fight seven regional elections this year.