Market Talk – May 3, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 closed Shanghai closed Hang Seng increased 268.79 points or 1.48% to 18,475.92 ASX 200 increased 42.00 [...]
Merkel & Schulz Under Tremendous Pressure in Germany
The politics in Germany remain in turmoil. The CDU leader Angela Merkel is being attacked from within her own party. The dissatisfaction concerning Merkel has engulfed the CDU base. It has reached at times outright seething rejection of Merkel. The future of the Union really hangs in the balance. The CDU party congress takes place on February 26, and that will be when they vote on the coalition agreement.
Meanwhile, the SPD leader Martin Schulz has come under persistent criticism concerning his personal ambitions for the office of Foreign Minister. The view has been he was willing to enter a coalition to get that political position for himself. This is the problem with career politicians and now he has been forced to come out and stating that he would refuse that position in order to save the coalition agreement.
Keep in mind that political turmoil in Germany underpins the Euro.
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