Bundesbank President Nagel says he is concerned about far-right rise

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It's a political earthquake in Germany. On Sunday, the far-right AfD party won a historic victory in Saxony-Anhalt.

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"I am concerned," replied Joachim Nagel, at a press conference in Berlin, after the meeting of the Council of the European Central Bank (ECB), when questioned about the outcome of the regional elections in Saxony-Anhalt (east of Germany), where the extreme right won an overwhelming victory.

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Saxony-Anhalt has been led for a full twenty years by coalition governments (without the AfD, of course) led by the strong Christian Democrats (CDU).

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The president of the German central bank, Joachim Nagel, is concerned about the rise of the radical right in his country. A few days after the election victory of the far-right Alternative für Deutschland in the state of Saxony-Anhalt, he warned that anti-immigration rhetoric could also cause economic headwinds.