Independent Strategy

Another one bites the dust

Despite Germany enjoying full employment, a budget surplus and generally solid economic performance, there is little faith in the grand coalition parties residing in Berlin. The leadership has run out of ideas and lost its way. Merkel must carry the can. She will formally step back from the CDU leadership in December and hope to limp along as Chancellor until the next scheduled federal election in September 2021. But as the political snipers emerge from the forest, we doubt that a lame duck can survive so long. The prevailing uncertainty will make the SPD extremely jittery. They may well be first to pull the plug. Unless Merkel steps down completely, an early election next year is now probable.

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