Bundesbank president warns Saxony-Anhalt election result could make foreign investors hesitant to do business in Germany

Bundesbank President Joachim Nagel warned that the Alternative for Germany’s (AfD) success in a state election could weaken Germany’s appeal to foreign investors, saying they may become reluctant to do business in the country. The remarks were made after the European Central Bank’s rate decision in Berlin on September 10, Reuters reported.

Nagel said he was concerned about the rise of right-wing parties in Europe and Germany. He also argued that some of their ideas were economically counterproductive and could undermine the country’s attractiveness as an investment location.

The AfD won 43.8% of the vote in Saxony-Anhalt’s September 6 state election, securing 39 of 83 seats but falling short of an absolute majority.