Merkel’s Trade-Centric Vision for Germany Still Stands
While delivering a more fragmented parliament, the German election may have also cemented the macroeconomic status quo.
www.wsj.com
Germany’s fragmented election results may prove that the more things change the more they stay the same.
Chancellor Angela Merkel has ruled over the world’s No. 4 economy for 16 years. Her macroeconomic policy legacy includes fiscal austerity and a trade-friendly wage containment that has led Germany’s current-account surplus to be one of the largest in the world, at 8% of gross domestic product.
