Monday, April 26, 2010

Merkel Tells Greece, Euro Region That Bailout Isn’t a Done Deal

Polls in recent weeks show Merkel’s Christian Democrats and their Free Democratic allies at risk of losing their governing majority in North Rhine-Westphalia, Germany’s most populous state. The two parties, which also underpin Merkel’s national government, fell short of a majority with support of 46 percent in an April 21 Forsa poll for Stern magazine. The margin of error was plus or minus 3 percentage points.

A defeat for Merkel might wipe out her coalition’s majority in the upper house of the national parliament and hamper her government’s efforts to cut taxes and extend the life of German nuclear power plants.

Merkel told the rally she wants Greece to agree to several years of budget cuts before releasing any German aid. “Greece has put savings measures into effect this year, but one year won’t be enough” to restore confidence in the financial markets, she said.

Posted via email from Jim Nichols

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