Wednesday, August 10, 2011

The Germans Revolt : Merkel Faces Stiff Opposition On Euro Bailouts

German Chancellor Angela Merkel faces major opposition in the Bundestag over deals to bail out some of the failing members of the Eurozone.

This is a much bigger deal than it appears at first sight.

The entire EU structure is largely dependent on German taxpayers supporting it, and as I've said before, it crumbles the day they say enough's enough. That day appears to be getting closer.

Like most European parliamentary governments, Germany's is a coalition, primarily between Merkel's own Christian Democratic Union and the Free Democratic Party. And that's exactly where the major opposition to the deal Merkel and Germany agreed to last month in Brussels with the 16 other Eurozone countries is coming from,because they're hearing from their constituents.

The Christian Democrats only have a 21 seat majority in the Bundestag, and the Free Democrats are looking for an issue to help them gain some ground in the polls. If Merkel faces enough opposition in her own ruling coalition, she's going to have make an unpleasant choice. Either she scraps the Eurozone deal, in which case either negotiations resume or the Eurozone crumbles and it's every man for himself. Or she's going to have to cut deals with the Left wing oppostion parties, the Social Democrats and the Greens to get the matter through, which would be devastating for Merkel and the CDU politically and electorally..and might even be enough for Merkel's government to fall.

We might just be seeing the beginning of the end of the Eurozone...and perhaps even the EU.

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louielouie said...

We might just be seeing the beginning of the end of the Eurozone...and perhaps even the EU.

ya think?
perhaps we're seeing the end of germany.
don't underestimate the power of the dark side, ...... er, ah, brussels. the post nationalists are your masters now. the lawfare of brussels is now the ultimate power in the universe. everything is proceeding as brussels has forseen it.

Rosey said...

Deutshe Mark anyone? How about some Drachmas? It's a failed experiment and it is ending.