Saturday, September 3, 2011

Angst over the euro

Economist
September 3, 2011

On the campaign trail, Angela Merkel tells voters to think positively. Germany “has come through the economic crisis better than some other countries,” the chancellor says to a crowd in the market square of Schwerin, the picturesque capital of Mecklenburg-West Pomerania, an eastern state. “Many have angst about the euro,” she observes. “You don’t have to. The currency is stable.”

Her supporters are not so sure. Bernd Lampe, a spectator who has belonged to Mrs Merkel’s Christian Democratic Union (CDU) for 45 years, admits to “a little angst”. Bail-outs backed largely by German taxpayers have gone too far, he thinks. His feeling is widely shared. The euro crisis has replaced unemployment as voters’ top concern, says Forschungsgruppe Wahlen, a pollster. Although most are content with their own situation, just 30% expect the economy to improve, compared with more than half in June.

More

No comments: