Ulrike Haider-Querica, 37, a university professor in Rome, told a convention of the Alliance for the Future of Austria that she was ready to lead a new generation out to change what she called the European Union's "failed policies."
She said EU founders' vision of a Europe as a peace project and common market had been corrupted, as shown primarily by bailouts of struggling euro zone countries that had threatened Europe's unity.
"The consequences are devastating. We run the danger of losing an entire generation," she told the convention, according to remarks published on the BZO website that said the EU had become "a marketplace for banks and corporations".
A split in the far-right Freedom Party led Joerg Haider to create the BZO, but its popularity has dwindled since he died in a car crash in 2008.
It fell out of Austria's parliament in elections last year and is polling only around 2 percent in opinion surveys on the European elections, which it will only be able to contest if it gathers enough voter signatures by April 11.