Alice Weidel, November 21, 2017, Euro Stabilization

Alice Weidel

Euro Stabilization

German Bundestag, November 21, 2017, Plenarprotokoll 19/9, pp. 111-113

[Alice Weidel is a co-chairman of the Alternative für Deutschland in the German Bundestag. This is Weidel’s first speech in the Bundestag and it begins with a two decades old quotation of former German Chancellor Helmut Kohl. The Target-2 program is part of the euro rescue regime designed to narrow the spread between German bond yields and those of less prudent members of the euro zone and whereby the Germans are in effect required to pay for some of their own exports. Upon the conclusion of this speech, Weidel received a standing ovation from the AfD delegation.] 

Right honorable Herr President, Right honorable ladies and gentlemen. Dear colleagues. 

          According to the treaty regulations for the euro, there is no community
          liability for the  obligations of member states and none for additional
          financial transfers 

That is the words of Helmut Kohl in the Bundestag debate of April 23, 1998! 

In regards the question whether Germany must accept responsibility for the debts of other countries, the CDU election advertisement for the 1999 European election announced, I quote: 

          A completely clear no! The Maastricht Treaty expressly forbids the liability
          of the European Union or of other EU partners for the debts of a member state 

So the voters have been promised: No euro country can be made liable for the debts of another member state. Thus it is in the treaties. This was a compelling and elementary basis for the founding of the European Monetary Union. Obviously, to you have long sat here, it is all the same what you have promised the citizens, since otherwise you would not have agreed to the fatal rescue program for Greece and the various rescue protections.  

The German taxpayer must bear enormous liability risks so that his hard earned money might save exhausted banks and states because these have been poorly managed. As a result, his savings dwindles away due to the negative interest rate policy and even the future of his pension is massively endangered. This policy is irresponsible. 

Anja Karliczek (CDU/CSU): That has nothing to do with anything! That is twaddle!

What is happening here is not only immoral, it is illegal. Article 123 of the Treaty on the Functioning of the European Union expressly forbids the financing of a state by means of the central bank. And the federal constitutional court has affirmed this in a recent decision. The federal government nevertheless appears to have no interest at all in ruling or treaty. One prefers to concern oneself with backroom preparations to circumvent the debates and voting of the plenary session. I ask you quite sincerely, Haven’t any of you anymore any sense of injustice? 

Against this unacceptable situation is the AfD, the Alternative for Germany, with all power opposed and thus have we entered office. We will not without protest stand by and witness the further presentation of faits accomplis and the cold expropriation of the citizen.   

The statements of Angela Merkel, Wolfgang Schäuble, Juncker and Emmanuel Macron allow no more doubt that the planned line of march for the euro zone is the following: permanent collectivization of debts, a euro finance minister with his own budget, principally, it is understood, financed by the German taxpayer and a special euro parliament. Of power-sharing is there indeed no more at all a trace.

                        Lothar Binding (SPD): Isn’t that painful for you? 

Right honorable ladies and gentlemen, that is a scandal for which you have to be held responsible. 

The euro should lead to Europe’s growing together. Helmut Kohl once spoke of a true peace project. The sad truth however is – and all of you know it – the euro has torn Europe apart. 

The AfD delegation today introduces its first motion in the German Bundestag, right honorable ladies and gentlemen. We want constitutional and EU treaty law, which to you is obviously foreign, to be again upheld. Thus it appears so. We want thereby to give to the citizens, to the taxpayers, to the savers and to future generations a voice which has been taken from them by the years of irresponsible, permanent euro rescue. We therefore require that finally a complaint be preferred against any EZB decree for careless money-making and asset annihilation. The bond purchase program is unconstitutional and it violates European treaty law, right honorable ladies and gentlemen. 

In that regard, the eternal euro rescue by means of Target-2 balances must finally be brought to an end. With a nod to each of the pseudo aid programs, worthy ladies and gentlemen of the delegations who have long sat here, have you already wrought an immense and major damage upon our nation and the German taxpayer. A conclusion to it must be finally made. The citizens have had enough of putting up with the contrary politics of an arrogant privileged class. There must finally be a return to the rule of law. For that have we entered office. Many hearty thanks.

[Translated by Todd Martin]