Germany's newest party, the
Eurosceptic "Alternative for Germany" (AfD), has won its first seats in the
state parliament of Saxony, according to preliminary results.
Chancellor Angela Merkel's Christian Democrats won the vote with 39.5%
according to exit polls. The AfD, which says it is anti-euro (the currency), rather than anti-Europe,
won around 9.6% of the vote. Eurosceptic parties made large gains in the European elections in May. The projected results from Saxony, a state in eastern Germany, indicate a
much more successful showing at the ballot box than had been predicted. The BBC's Damien McGuinness in Berlin says this is the first time that an
anti-euro party has won seats in a German state parliament - which is big news
in a country where support for the European Union is traditionally strong.
The AfD appeals to some conservative voters who think that Angela Merkel has
moved too far to the centre, he adds.
The new party, which is one year old, entered the European parliament in
May's elections, calling for the breakup of the euro and campaigning against
bailouts for southern European countries.
However the party is seen by some as being controversial, accused of catering
to nationalist sentiment and attracting right-wing extremists, our correspondent
adds.
Angela Merkel, whose party sits on the centre-right, has ruled out any future
coalition with AfD.
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The Treasury is to clash with the European Union in a last-ditch effort to overturn a draconian cap on bankers’ bonuses, arguing in Europe’s top court that rules limiting rewards are an unjustified intrusion.
Government lawyers will on Monday lay out objections to the rules, which have been widely criticised by those in the City who argue it puts London’s financial sector at a disadvantage to New York’s and Hong Kong’s.
As part of a systematic overhaul of EU banking rules designed to stabilise the financial system, bonuses are being capped at 100pc of banking salaries, or 200pc with shareholder approval.
The Treasury has opposed the move on the grounds that it is an overextension of the EU’s remit, and does not contribute to improving financial safety. The bonus cap is seen as among the most damaging of a number of Brussels diktats on the UK’s financial services industry. The Treasury said the rules could “undermine financial stability”.
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