The spineless revolution

The SPD’s new leadership choice might appear radical but it’s unlikely to mark the start of a coalition collapse. What it does do though is politicise a number of issues as the SPD seeks to reassert its leftist credentials. While the new leadership will push for the right type of changes it visibly politicises many issues. Such hostility creates paralysis at a time when real leadership is required. These delays will be bad for growth, the euro and Germany’s longer-term dreams of normalised monetary policy.

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