Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Headlines

Posted By Global Banking and Finance Review

Posted on January 28, 2025

Scholz says Musk's backing of right-wing in Europe is disgusting

BERLIN (Reuters) - German Chancellor Olaf Scholz on Tuesday sharply criticized Elon Musk's backing of the right-wing parties in the European Union, calling it "really disgusting" and said it was hindering democracy in the bloc.

The U.S. billionaire and ally of U.S. President Donald Trump has multiple times attacked the chancellor and his government, calling on him to resign and saying that the far-right Alternative for Germany (AfD) party is the country's only saviour.

"What is new is that he is intervening in favour of right-wing politicians all over Europe. And this is really disgusting and it is not good for the democratic development in all the European Union," Scholz responded in English to a journalist's question after a campaign event in Berlin.

Most recently, Musk made a surprise appearance at the AfD's campaign event via video link and said the Germans should not be guilty of their parents' sins and should be proud of their culture.

"I am absolutely critical about what Elon Musk said about the history of Germany," Scholz said, adding that his country will continue to bear responsibility for the things that have been done by Germans in the past.

This week the world is remembering the liberation of the Nazi concentration camp Auschwitz, Scholz added. "This killing of so many Jews and other people in Europe done by Germans in the past, this is a historic responsibility".

Germany is thankful to the U.S. for freeing it from Nazis and helping it to become a democracy again, Scholz said, adding, "and this is why I am so angry about Elon Musk intervening for the far-right".

Last week, the world's richest person caused uproar after he made a gesture that drew online comparisons to a Nazi salute during Trump's inauguration festivities.

The anti-immigration, anti-Islam AfD is labelled as right-wing extremist by German security services but is currently polling second in nationwide surveys before the upcoming snap election in the country, where the debate on immigration magnified after a string of violent attacks by foreign-born suspects.

(This story has been refiled to correct the spelling of Scholz in the headline)

(Reporting by Andreas Rinke; writing by Andrey Sychev; Editing by Bill Berkrot)

Recommended for you

  • Analysis-Risk of violence escalates in Myanmar's civil war as junta flags elections

  • UK's Reeves budget rule outlook is "on a knife edge," think tank says

  • Germany's budget committee wants to approve 3 billion euros for Ukraine, sources say