Former intelligence chief Hans-Georg Maassen has become a prominent right-wing voice in Germany's opposition. AFP
Former intelligence chief Hans-Georg Maassen has become a prominent right-wing voice in Germany's opposition. AFP
Former intelligence chief Hans-Georg Maassen has become a prominent right-wing voice in Germany's opposition. AFP
Former intelligence chief Hans-Georg Maassen has become a prominent right-wing voice in Germany's opposition. AFP

Ex-German spy chief under pressure over far-right leanings


Tim Stickings
  • English
  • Arabic

A former German spy chief jockeying for influence in Berlin faces possible expulsion from his party over what it called his embrace of far-right language and conspiracy theories.

Hans-Georg Maassen is running to lead a hard-right faction of Germany’s main opposition party, the Christian Democratic Union, which nominated him in a failed bid to become an MP in 2021.

He has become an increasing embarrassment to the party after raging against migration, alleging a range of left-wing conspiracies, sowing doubts about vaccines and recently speaking of “racism against white people”.

The CDU’s general secretary Mario Czaja said on Tuesday that Mr Maassen should resign from the party amid calls for a formal disciplinary process.

He said Mr Maassen was moving closer to the far-right Alternative for Germany party, which has come under surveillance by the domestic intelligence agency he used to lead.

“Again and again he uses the language of anti-Semites and conspiracy theorists,” said Mr Czaja.

“His constant provocations do not have any purpose except to promote his own ego. He has increasingly become a burden to the CDU. There is no place in our party for his language or the ideology behind it.”

It comes a day after terror charges were announced against five people accused of plotting to kidnap a senior minister as part of a plan to reinstate the former German Reich.

Mr Maassen has played down the threat of right-wing extremism despite two alleged plots to overthrow the state. AFP
Mr Maassen has played down the threat of right-wing extremism despite two alleged plots to overthrow the state. AFP

Prosecutors claimed the suspects had acquired weapons, were willing to kill and planned to fake an announcement by Germany’s president or chancellor announcing the end of its postwar democracy.

It was the second such case in two months involving the far-right scene. Mr Maassen has played down its threat and was accused of failing to address it while head of the intelligence agency from 2012 to 2018.

He was demoted from that role in 2018 after suggesting that footage of migrants being harassed in the streets by far-right protesters was fake or overblown.

The CDU’s latest effort to distance itself from Mr Maassen comes after he said in an interview that migrants were being welcomed to Germany because of “racial teaching that sees white people as an inferior race”.

“When politicians and opinion writers claim there is no racism against white people or Germans, that means political persecution of white people on racial grounds is permitted,” he said.

Mr Maassen said on Monday that he was the victim of a smear campaign and still hoped to be elected leader of the CDU’s right-wing “values union” in a vote on Saturday.

His platform includes opposing “any kind of eco-socialism and gender wokery” in the CDU.

“There is clearly a fear in parts of the political and media establishment that the values union will become a lively and noticeable political force, under my leadership, that will call for political change. That fear is justified,” he said.

The CDU suffered its worst-ever election result in 2021, losing power after former Chancellor Angela Merkel’s 16-year term. It currently leads polls amid criticism of Chancellor Olaf Scholz’s handling of the war in Ukraine.

ESSENTIALS

The flights

Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.

The hotels

Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.

The tours

A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages. 

Brief scores:

Toss: Northern Warriors, elected to field first

Bengal Tigers 130-1 (10 ov)

Roy 60 not out, Rutherford 47 not out

Northern Warriors 94-7 (10 ov)

Simmons 44; Yamin 4-4

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How to watch Ireland v Pakistan in UAE

When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

NBA Finals results

Game 1: Warriors 124, Cavaliers 114
Game 2: Warriors 122, Cavaliers 103
Game 3: Cavaliers 102, Warriors 110
Game 4: In Cleveland, Sunday (Monday morning UAE)

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
Updated: January 24, 2023, 1:00 PM`