虎嗅

“If you can’t afford to play, don’t play.”

原文:“玩不起就别玩,”

Hello! I'm your financial news analysis assistant. This article from "Mr. Smart" uses a very sharp and emotionally charged tone to analyze the significant victory of the far-right party, the Alternative for Germany (AfD), in the state parliament elections in Saxony-Anhalt, Germany (referred to as "Saxony-Anhalt" in the article), and the subsequent collapse of the traditional mainstream parties. It also explores the profound implications of these results for German and even European political landscapes.

To help you understand the logic behind this better, I've broken down the key points of the article into five sections, explained in plain language:

1. The Election Turnaround: From Confidence to Disaster – Why Did the Traditional Parties Lose So Disastrously?

First, let's understand what happened in these elections.

Previously, the mainstream parties in Germany, such as the Christian Democratic Union (CDU) led by Merkel, had a kind of misplaced confidence. They believed that voters supporting extreme parties were just a minority causing trouble. As long as the majority of law-abiding citizens voted, those extreme voices would be diluted, and the mainstream parties would remain in power.

But this time, everything changed.

  • Record Voter Turnout: The voter turnout in Saxony-Anhalt reached 78%, the highest since the reunification of Germany. This means that the previously silent majority went out to vote, and many of them cast their ballots for the AfD.
  • Voter Share Plunge: The CDU, which had previously received 37.1%, now only got 18.5%, a significant drop. In contrast, the AfD won 43.8%, becoming the biggest winner.

In simple terms: It's like a class where the class president (CDU) thought that as long as most students raised their hands, the opposition (AfD) wouldn't be able to make a difference. But this time, almost everyone raised their hands, and more than half of them voted for the student who was usually looked down upon. This shows that it wasn't the opposition that became stronger; it was the mainstream parties that completely lost the trust of the people. The public felt that the mainstream parties were ineffective and only talked the talk, so they voted with their feet, choosing the student who was outspoken and direct.

2. Angela Merkel's Image and Strategy: Packaging the Far-Right as a "Financial Auditor"

The article spends a lot of space discussing AfD leader Angela Merkel. Why her? Why did she win?

  • Elite Background, Breaking Stereotypes: Merkel doesn't fit the typical image of a far-right extremist. She's a doctor of economics from the University of Bayreuth and has worked at top financial institutions like Goldman Sachs and Allianz. In Western politics, she is also an openly gay woman who raises two children.
  • The Trick: According to Western left-wing logic, she should be an "ideal elite." But she leads a far-right party, creating a paradox that makes many middle-class voters think, "She's not crazy; she's an elite who understands economics and the rules, even if her rules are different from ours."
  • Switching from Hatred to Common Sense: Merkel's strength lies in her focus on money and daily life rather than grand racial theories. She points out how much of people's earnings are taken by taxes and social security, questioning whether this is any different from robbery. She also highlights the poor state of Germany's infrastructure and how the government spends money on things like buying weapons for Ukraine, bailing out Southern Europe, and subsidizing India.
  • Her Policies: Her proposals (tax cuts, strict immigration controls, reviving nuclear power, reestablishing gas imports from Russia, and a more pragmatic approach to China) may sound extreme, but the core message is, "Save money, secure the borders, and restart the economy."

In simple terms: Merkel presents the far-right agenda as a "financial audit" for the German middle class. She tells them that immigrants aren't taking their jobs but that the government's high taxes, generous welfare, and poor energy policies are to blame. Her approach is more appealing because it addresses real issues, making it seem less extreme.

3. Merkel's Tragedy: The Collapse of Her Image and the Embarrassment of "Scholz 2.0"

The current German Chancellor, Merkel (CDU leader), is in a very awkward position, described as "tragic with a touch of comedy" in the article.

  • Image Crash: Merkel initially won against her predecessor,朔z, by presenting herself as a "right-wing tough guy" with a Thatcher-like approach to finance. She promised to maintain fiscal discipline and cut welfare.
  • Reality Slams In: After taking office, to gain a majority in parliament, she appointed a left-wing Social Democrat as finance minister. The result was:
  • Fiscal Chaos: Despite claiming to follow rules, she engaged in secret budgeting, which led to criticism from auditors.
  • Welfare Policies Failed: She tried to reform welfare benefits but backed down under pressure from the left, allowing illegal immigrants to receive more money than workers.
  • Energy Policy Mess: Power plants exploded, nuclear power was shut down, and she couldn't do anything about it.
  • Polling Decline: She promised to reduce AfD support by half within a year, but a year later, AfD support increased, CDU support plummeted, and her own support dropped to single digits.
  • Desperate Measures: She started criticizing immigration issues in the media, but this backfired as voters thought, "If you're right about these issues, why didn't you do anything about them while in power?"

In simple terms: Merkel was like a boss who promised to lose weight but ended up eating junk food for political reasons. Now, with a fiscal crisis and poor infrastructure, she tries to appear healthy by criticizing immigration, but no one believes her because her problems remain. Voters see her as a failure who lacks both the left's intelligence and the right's principles.

4. Saxony-Anhalt's Dead End: How Long Can This Five-Party Coalition Last?

The election results have put Saxony-Anhalt in a political dead end, which could predict the outcome of the 2029 federal elections in Germany.

  • Coalition Challenges: The parliament has 83 seats, with the majority at 42. The AfD has 39 seats, just three short of a majority. The remaining 44 seats are distributed among the CDU, Social Democrats, Greens, Left Party, and the BSW (Wagenknecht Alliance).
  • The "Firewall" Breaks Down: After World War II, there was an unwritten rule that mainstream parties should not cooperate with the far-right. But with the CDU only having 15 seats, they need to bring in all other parties (including the Left Party, Greens, and BSW) to form a coalition.
  • Internal Struggles: The CDU's constitution prohibits cooperation with the Left Party, but they have no choice but to do so to stop the AfD.
  • Contradictory Goals: The Greens want to accelerate decarbonization, while the BSW opposes climate taxes and wants to re-establish gas imports from Russia, making them natural rivals.
  • The Coalition's Weakness: This coalition has only a 5-seat advantage, and any conflict or defection could lead to its collapse.

In simple terms: It's like five people with very different personalities sharing an apartment. To keep the "annoying neighbor" (AfD) out, they have to live together. But they have different preferences (cleanliness, smoking, drinking, order), and any disagreement could lead to the end of the partnership. This coalition is doomed to be short-lived and extremely unstable.

5. European Turmoil: Germany's Role and the EU's Future

The impact of these elections extends beyond Germany, causing panic throughout the European political landscape.

  • The End of Political Correctness: The European establishment has always promoted open borders and diversity as political correctness. The AfD's victory shows that people prefer safety and order over tolerance and freedom, shattering the myths of the left.
  • Shift in Policy Towards Russia: The AfD's support for Russian natural gas imports means Germany might move away from the U.S. and return to more pragmatic economic policies, which scares Eastern European countries like Poland and the Baltic states.
  • The EU's Financial Strains: Germany is a major contributor to the EU, paying billions annually and bearing a third of its total contributions. Merkel's comments about Germany's "actual bankruptcy" raise concerns about the EU's financial stability.
  • Consequences: If the AfD comes to power, it could push for a referendum on leaving the EU or cut off financial support, threatening the EU's unity and stability.

In simple terms: Germany used to be like the "old ox" in the family, working hard to support the rest of the EU. Now it's saying, "I'm done; I'm exhausted, and I want to get back what I've spent." This shocks Europe:

  • Countries like France and Spain are worried because their welfare systems rely on German funding.
  • Eastern European countries are concerned about losing their security if Germany aligns with Russia.
  • The EU is worried about losing its biggest contributor.

In summary: Germans voted for the AfD not because they like extremism but because they are desperate about the current situation. When mainstream parties fail to solve economic problems and ensure safety while only talking the talk, people turn to a party that dares to take action. This is not just a German crisis but a fundamental challenge to the post-war European order, which has relied on Germany's economy and openness as its foundation.