Forum Views ()
Forum Replies ()
Read more with google mobile :
Germany revving up but Merkel continues to sputter
Yahoo!
My Yahoo!
Mail
More Yahoo! Services
Account Options
New User? Sign Up
Sign In
Help
Yahoo! Search
web search
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Germany revving up but Merkel continues to sputter
AFP - Sunday, August 15
Send
IM Story
Print
Germany revving up but Merkel continues to sputter
BERLIN (AFP) - – The latest data for Germany has confirmed that Europe's biggest economy, unlike the United States and elsewhere, is firing on all cylinders. But voters aren't giving Chancellor Angela Merkel the credit.
Germany's gross domestic product (GDP) expanded 2.2 percent in the second quarter, figures showed Friday, the strongest three-monthly gain in output since East and West Germany reunified in 1990.
This followed figures showing that exports, the backbone of the German economy, rocketed 28.5 percent year-on-year in June to reach 86.5 billion euros (111.7 billion dollars), close to pre-crisis levels.
Germany has long been lambasted for doing little to get consumers shopping, but a 31.7-percent leap in imports to a record 72.4 billion euros suggested that consumer demand is also returning to rude good health.
"Exports are doing so well that they are helping to produce more jobs and more wages in Europe and this in turn is producing more domestic demand," Deutsche Bank senior European economist Gilles Moec told AFP.
Inflation, meanwhile, which has terrified Germans since the harrowing price increases of the inter-war Weimar Republic, remains tame, last hitting an annualised rate of 1.2 percent in July.
The recovery is all the more remarkable considering that the global downturn sparked by the financial crisis in 2008 and 2009 caused Germany's economy to record its sharpest drop in GDP in the post-war era last year.
Thanks in large part to government schemes, a feared spike in unemployment failed to materialise, with the jobless rate now hovering at a respectable 7.5 percent as German firms -- whose profits are up -- begin hiring again.
But the conservative Merkel, 56, is failing to profit, 11 months after triumphantly winning a second term.
"The Germans see no link between the good performance of the economy and Merkel's government," Gerd Langguth, political scientist at the University of Bonn, told AFP.
An opinion poll last week by the independent Forsa institute gave her three-way coalition of Christian Democrats (CDU), their Bavarian sister party the CSU, and the Free Democrats (FDP) just 34 percent of voting intentions.
Voters, analysts say, have been turned off by the apparent indecision and very public squabbling of Merkel's coalition -- a tie-up she chose -- and by Merkel's hesitant handling of the Greek and eurozone crises.
"Voters hate that -- they only see indecision," political scientist Jens Walther at the University of Duesseldorf said of the party infighting.
The parlous state of public finances has meant that the coalition is unable to deliver on pre-election promises of tax cuts, choosing instead to slash spending, while progress on reforming health care and education has stumbled.
"For most people, there is no recovery. They are not earning more, but the costs of life are rising," political scientist Barbara Riedmueller from Berlin's Free University told AFP.
In late September, Merkel is expected to say that the life of some of Germany's nuclear plants will be extended beyond the planned shut-off date of around 2020, in what will be a highly divisive decision.
Environmentalists have promised street protests, and the opposition Greens and the Social Democrats, who pushed through the switch-off while in power in 2000, and who are now riding high in the opinion polls, can't wait.
A disastrous election result in May in North Rhine-Westphalia, Germany's most populous state, robbed Merkel's governing coalition of its majority in the upper house, constricting her ability to pass legislation.
Merkel is facing a "super election year" in 2011 with six of Germany's 16 states going to the polls, three of them in March.
"Frau Merkel is going to have a very tough year," Langguth predicted.
Recommend
Send
IM Story
Print
News Search
Top Stories
Russian grain export ban comes into force
Germany revving up but Merkel continues to sputter
Summer breather in Greece ahead of austerity push
Wall Street ends week with sharp drops and gloom
Australia corals to light up cancer cure fight
More Top Stories »
ADVERTISEMENT
Most Popular
Most Viewed
Most Recommended
Belgian man dies of South Asian superbug
Obama endorses mosque plan near Ground Zero
Wall Street ends week with sharp drops and gloom
Australia corals to light up cancer cure fight
Germany drives record Europe recovery, but experts fear peak
More Most Viewed »
Obama endorses mosque plan near Ground Zero
Argentine students crack three-decade-old murder mystery
40 US billionaires pledge half wealth to charity
Visitors attack Taiwan 'haunted house' actors
World's first full face transplant man appears on TV
More Most Recommended »
Elsewhere on Yahoo!
Financial news on Yahoo! Finance
Stars and latest movies
Best travel destinations
More on Yahoo! News
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Subscribe to our news feeds
Top StoriesMy Yahoo!RSS
» More news feeds | What are news feeds?
Also on Yahoo!
Answers
Groups
Mail
Messenger
Mobile
Travel
Finance
Movies
Sports
Games
» All Yahoo! Services
Site Highlights
Singapore
Full Coverage
Most Popular
Asia Entertainment
Photos
World Cup 2010
Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Terms of Service |
Privacy Policy |
Community |
Intellectual Property Rights Policy |
Help
Other News on Sunday, 15 August 2010 Lebanese army kills top Islamist after three-year hunt
Lebanese forces shoot dead suspected militant leader
Lebanese forces shoot dead suspected militant leader
|
Wall Street ends week with sharp drops and gloom
Australia corals to light up cancer cure fight
Obama, Hillary Congratulate Indians On 63rd Independence Day
U.S. missile strike kills 12 militants in Pakistan
|
University Of Idaho Hires Private Guards To Bolster Campus Security
Fire Engulfs Detroit Retail Building; Six Firefighters Injured
Armed men kidnap two Darfur peacekeepers
|
Afghan, NATO troops pursue Haqqani fighters
Suspected Qaeda gunmen kill Yemen security officer
|
Aussie Slingsby arrows in on dethroning world champ
Karzai asks Obama for review of Afghanistan war
Julia Roberts to receive award at San Sebastian film fest
U.S. missile strike kills 12 militants in Pakistan
US 'concerned' over results of Rwanda vote
Two killed in latest Indian Kashmir clashes
Zsa Zsa Gabor hospitalized after surgery
Japan's Tamada gives Nagoya J-League lead
S.Korean 'breaks home run world baseball record'
Julia Roberts to receive award at San Sebastian film fest
Youth Olympics officially opened
800.000 join Zurich techno Street Parade: organisers
Dutch teen arrives in Portugal ahead of solo sailing bid
Spain extradites alleged 'Pink Panther' thief to Japan
Egypt's Islamic art museum reopens after restoration
Shackleton's vintage whisky exposes secret tippler
Armed men kidnap two Darfur peacekeepers
Experts not consulted over Lockerbie bomber's release
US-TECH Summary
China marks day of mourning for landslide victims
|
US aid arrives as Russia says no nuclear risk from fires
Russian grain export ban comes into force
Venezuela probes opposition paper over morgue photo
|
French lawmaker denounces Roma raids as disgraceful
Germany revving up but Merkel continues to sputter
China paper warns military thinking outmoded
|
South Korea president calls for reunification tax
|
Summer breather in Greece ahead of austerity push
Tight Australian election race enters final week
|
US 'intensifies strikes' at Al-Qaeda targets
Global Weather-Celsius
Hollywood diplomacy in France shows up Sarkozy
Man Killed In Boston Bar Fight; Suspect Charged With Manslaughter
Better, More Effective Contraceptive Pill To Hit US Market Soon
India PM pushes Pakistan to crack down on militants
Mugabe goes shopping in Hong Kong
China paper warns military thinking outmoded
N.Korea uses Twitter for propaganda offensive
Hollywood diplomacy in France shows up Sarkozy
Japanese officials avoid war shrine on anniversary
Apple manager charged with taking kickbacks
|
US-ENTERTAINMENT Summary
China observes day of mourning for mudslide victims
Li Hongqi's 'Winter Vacation' tops Locarno film fest
Siberian tiger mauls keeper in China
Volkswagen inks deal with Malaysia's DRB-HICOM
Sri Lankan exporters brace for loss of EU tax breaks
S.Korea vows not to tolerate N.Korea provocation
India outsourcers angered by US job visa hike
UN chief urges world to speed up Pakistan aid
Japan's PM to watch closely strength of yen: Jiji
India PM urges Pakistan to crack down on militancy
Jazz singer Abbey Lincoln dies
|
Fires still threaten Russian nuclear site
Baghdad attacks kill 18
U.N. chief urges faster foreign aid for Pakistan
|
Four killed in Baghdad attacks: security officials
Thousands evacuated in Lourdes hoax bomb scare
UN Chief Calls For Credible Elections In Myanmar
Afghanistan: NATO strike kills 2 fleeing militants
Foreign troops deaths in Afghanistan pass 2,000
|
Eight killed, 12 injured in California desert race
Fire near Russian nuclear site as smog returns
Bear Cub Survived 10 Days With Head Stuck In Jar
Top US Official Backs Pak Army Chief, General Pervez Kayani
Afghanistan says finds 1.8 billion barrel oilfield
|
Man Killed In Boston Bar Fight; Suspect Charged With Manslaughter
Fire Evacuates Two Hotels Near The White House
Qaeda No. 2 urges Turkish break with Israel: website
|
South Africa's opposition parties merge to challenge ANC
|
Israel's Barak approves U.S. F-35 fighters purchase
|
Argentine leader more popular than husband: poll
|
Orthodox flock to once-banned holy site in Turkey
|
Ellis try double keeps Tigers on top-four target
Apple manager charged with taking kickbacks
|
Relatives re-trace Titanic route to mark 100 years
S.Korean Christians demand Japan's action
Jazz singer Abbey Lincoln dies at 80
U.N. chief urges faster foreign aid for Pakistan
Fear and voting in Sydney's sprawling west
Warnings exchanged ahead of S. Korea war games
Japan claims first gold of inaugural Youth Games
African air travel nightmare blocks trade, tourism
Pacific villagers await their god: Britain's Prince Philip
Philanthropy thriving in newly rich Singapore
Poverty in Taiwan at record high: report
No evidence milk powder caused infant breasts: China
Hundreds protest in Jakarta, urge religious freedom
Matthew beats Ashour for Australian title
Saudi sitcom row tests tolerance toward Christians
|
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights