Oskar Lafontaine says on his website that struggling eurozone countries have not been able to devalue their currencies to help them cope with the economic crisis that has seen several slip into recession.
Lafontaine proposes a restructuring of Europe's banking system, stricter controls on lenders, and a return to the European monetary system that preceded the euro.
Lafontaine is now out of federal politics but is still an influential member of the Left Party, the successor to former East German communists.
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