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In 2013, a group of German intellectuals established the Alternative for Germany (AfD) as a pro-business, classically liberal party. The party was founded in opposition to the single European currency and was led by Hans-Olaf Henkel, a former leader of the main German industry association. Mr. Henkel was a strong supporter of free-market principles and believed that the AfD represented the best interests of German businesses.
However, within a few years, the AfD underwent a significant transformation into an anti-immigrant, populist party that considered the idea of Germany leaving the EU (Dexit). This shift in ideology caused concern among many German business leaders who had initially supported the party. As a result, Mr. Henkel decided to leave the AfD in 2015 and many other German business leaders distanced themselves from the party.
Despite their traditional reluctance to make public political statements, many German business leaders spoke out against the AfD leading up to the European Parliament election on June 9th. They were concerned about the party’s anti-immigrant stance, populism, and flirtation with the idea of Germany exiting the EU. As a result, German bosses made it clear that they did not support the AfD’s current direction and policies.
The shift from a pro-business, classically liberal party to an anti-immigrant, populist party caused a rift between the AfD and the German business community. This led to a public denouncement of the party by many business leaders who were disappointed with its transformation into an extremist group that did not represent their interests.
