Forum Views ()
Forum Replies ()
Read more with google mobile :
Tax-cutting Merkel kicks off second term
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
Africa
Europe
Latin America
Middle East
North America
Tax-cutting Merkel kicks off second term
AFP - Thursday, October 29
Send
IM Story
Print
German lawmakers have formally re-elected Angela Merkel (C) for a second four-year term as chancellor, this time at the head of a new centre-right coalition.
BERLIN (AFP) - – German Chancellor Angela Merkel formally embarked on a second term on Wednesday at the head of a new coalition pledging to make Europe's biggest economy emerge stronger from the financial crisis.
After her general election victory on September 27, a majority of German MPs voted for a second term for Merkel, with 323 in favour, 285 against and four abstentions, meaning at least nine from her own bloc didn't support her.
"I accept the result and thank you for your trust," she said, as lawmakers applauded and presented her with bouquets of flowers in the main chamber of the Reichstag parliament building.
Profile of the world's most powerful woman
Merkel, now 55, crowned a meteoric rise through Germany's male-dominated political scene to became Germany's first female chancellor in 2005 as well as its first leader from the former communist East Germany, and its youngest.
In last month's general elections, Merkel was able to ditch her previous partners, the centre-left Social Democrats (SPD), for a tie-up of her conservatives with the pro-business Free Democrats (FDP).
The new government has pledged to make Germany, accounting for a third of eurozone ou tput, emerge from the global downturn in better shape than before the financial crisis sent it into its worst recession since World War II.
It has promised 24 billion euros (35.6 billion dollars) worth of tax cuts, effectively a third stimulus package, putting it in breach of European Union deficit rules for several years to come.
Jean-Claude Juncker, chairman of the 16-nation eurozone and a candidate to become the EU's first full time president, said this week that Germany's debt mountain was "excessive and scarcely bearable for the next generation."
Horst Koehler, a former head of the International Monetary Fund and now holder of the mostly ceremonial post of German president, told Merkel on Wednesday that the government "has to reduce the national debt" and warned against "unrealistic growth expectations."
Merkel has ruled out large reductions in government spending to reduce borrowing, saying this could jeopardise a fragile recovery, and that the growth the tax cuts would trigger would eventually help cover the cost.
"In such a unique economic crisis the state must do the little that it can do to boost growth, financed by higher debts," Wolfgang Schaeuble, Merkel's new finance minister, told Stern magazine on Wednesday.
"First what we have to do is to make it through the crisis -- afterwards we can consolidate."
The Financial Times's Lex column on Wednesday described the tax cuts, which it said meant that Germany now had the largest fiscal stimulus in place in the eurozone, as a "worthwhile gamble."
Merkel told ZDF public television on Wednesday that "once the crisis is over," budgetary discipline and bringing Germany's deficit back within EU limits would be "of upmost importance."
But the economy is not her only challenge.
Figuring highly will be Germany's increasingly unpopular mission in Afghanistan, with its about 4,200 troops based there facing an ever more tenacious insurgency and Berlin under pressure from its allies to do more.
FDP head Guido Westerwelle used his first statement as foreign minister on Wednesday to stay that the international community had to stay the course in Afghanistan.
The chancellor's first foreign trip in her new term was due to take her to Paris later on Wednesday for talks over dinner with French President Nicolas Sarkozy.
Frank-Walter Steinmeier, Merkel's SPD challenger in the election, said he was "astounded and outraged ... that (Merkel) is flying abroad and not being questioned by parliament on the content of her future policies."
Recommend
Send
IM Story
Print
Related Articles
US economy likely to post first growth in year AFP - Thursday, October 29
Europe's leaders grapple with bloc's future AFP - Thursday, October 29
World awaits Iran's response on uranium deal AFP - Thursday, October 29
UN torture expert says denied entry into Zimbabwe AFP - Thursday, October 29
NASA rocket launch advances Moon mission dream AFP - Thursday, October 29
News Search
Top Stories
US economy likely to post first growth in year
Fibre may keep asthma, diabetes at bay, study finds
Firms accept Ecuador plan to break pharma patents
NASA rocket launch advances Moon mission dream
Ailing CIT gets $4.5 bln loan, rejects Icahn offer
More Top Stories »
ADVERTISEMENT
Most Popular
Most Viewed
Most Recommended
US consumer confidence takes recession beating
Obama unveils historic power grid reform
US financial sector will pay for failures: bill
NASA rocket launch advances Moon mission dream
Japan's Nomura reaps rewards of Lehman deal
More Most Viewed »
Boyzone singer Gately dies in Spain
Mobile phone giant Nokia sues Apple over patents
NASA bombs the moon's surface in search of water
Huge dinosaur find in China 'may include new species'
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
Copyright © 2009 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 Thursday, 29 October 2009 Kremlin says sanctions against Iran unlikely
Europe blighted by noise pollution
Google unveils free GPS navigation for mobile phones
Lift-off for new NASA rocket
Tax-cutting Merkel kicks off second term
Iran to deliver response on uranium deal Thursday: report
Brussels targets bailed-out banking giants
Deutsche Bank strikes billion-euro takeover deal
Darkest day for UN as Taliban kill 9 at Kabul hostel
Japanese car wins World Solar Challenge in Australia
Rockets found in Lebanon after attack on Israel
ArcelorMittal bounces back on demand gain
Lebanon stops fresh rocket attack on Israel
NASA launches world's tallest rocket
WHO chief says Fidel Castro looks wonderful
| International
|
Somali pirates warn Britain against yacht rescue
| International
|
Iran tells EU it is ready for "constructive" talks
US new home sales in surprise fall
US durable goods orders rebound in September
Yemen seizes boat off coast, arrests 5 Iranians
NATO chief to discuss Afghan cooperation in Russia
| International
|
Darfur elders urged to help free aid worker
Swiss to tighten assisted suicide rules, consider ban
| International
|
Lebanese army dismantles 4 rockets near Israel
Google unveils free GPS navigation for mobile phones
Crucial holiday season arrives for video game industry
| Technology
|
SKorea's opposition beats ruling party in by-elections
Pakistan bomb kills 92 as Clinton visits
Boulder DA to investigate balloon boy sheriff
Indian president meets British PM in state visit
Mongolia parliament approves PM resignation: state TV
Japan's new govt may 'fracture' US alliance: opposition
Feds file suits over $562 million bogus tax claims
Australia insists Indonesia must deal with migrants
Plans to rebuild damaged CCTV building under way
ACORN drops Pa. county prosecutor from lawsuit
Health care issues: The cost of health insurance
At least 10 killed as China bus falls off hillside
Former sex slaves urge Japan PM to resolve issue
Afghanistan reports 1st swine flu death
Ford picks China's Geely as preferred bidder for Volvo
Drought, typhoons hurt Asia's rice production
HSBC to set up credit card joint venture
Pakistani stocks, rupee end weaker after blast
BOK board member calls for fast rate rise -report
Jackson's dermatologist files $50k claim
Cancer didn't beat Patrick Swayze, wife Lisa says
| Entertainment
|
Miley Cyrus voted worst celebrity influence of 2009
| Entertainment
|
New Moon rises to No. 1 on Billboard 200
| Entertainment
|
Baz Luhrmann's Australia snubbed in home film awards
| Entertainment
|
Australian author saves tsunami village, rescues self
| Entertainment
|
Kenya Slams 'Uninvited' U.S. Diplomat Over Visa Ban Announcement
Murder Suspect's Escape Foiled When Woman Takes His Keys, Wallet From Getaway Car
9-Foot Burmese Python Found In Vero Beach Backyard
Quarantine Efforts Fail To Stop Spread Of Longhorn Beetle In Nova Scotia
Bad Economy A Divorce Deterrent For Americans
Store Owner Happily Captures 5-Foot Gator In Massachusetts
Baby Boy Healthy After Mom Gives Birth On London Bus
Michael Jackson Earned $90 Million Since Death, Ranking Third On Forbes Top-Earning Dead Celebs List
Feces-Throwing Burglar Goes Ape Gets 31-Year Sentence
FAA Revokes License Of Northwest Pilots Over Laptop Use
World awaits Iran's response on uranium deal
Google gets its groove on with music search
US economy likely to post first growth in year
Europe's leaders grapple with bloc's future
IAEA says had good trip to Iran enrichment site
| International
|
Lisbon opt-out is Klaus's last condition: Czech PM
Fibre may keep asthma, diabetes at bay, study finds
US-TECH Summary
Five U.N. foreign staff killed in attack in Kabul
| International
|
Tax-cutting Merkel kicks off second term
Reported jailing of British embassy worker slammed
Google Voice call blocking limited, company says
U.N. official heads to Iraq after Baghdad bombings
Firms accept Ecuador plan to break pharma patents
Google launches music search with Lala, iLike
Iran to respond to atomic deal Thursday in Vienna
Politico owner launching local Washington news website
U.N. official heads to Iraq after Baghdad bombings
| International
|
Smokers could go virtual to kick the habit: study
Ailing CIT gets $4.5 bln loan, rejects Icahn offer
Chinese visit seals end of chilly ties with Australia
| International
|
UN staff killed in bloody countdown to Afghan vote
Crucial holiday season arrives for video game industry
Iran supreme leader: Questioning elections a crime
U.N. torture expert detained in Zimbabwe airport
| International
|
Motorola's Droid has Google navigation features
Google adds free GPS navigation to mobile phones
Motorola's Droid has Google navigation features
Radical Islamic leader killed in FBI raid in Detroit
Google launches music search with Lala and iLike
| Technology
|
Amazon.com rolls out shortcut for paying online
| Technology
|
Nintendo to launch larger-screen DS for $222
| Technology
|
LA police link man to Israeli team, Chivas thefts
Seoul's aid offer one-tenth of NKorea's request: report
Swine flu prompts hundreds of schools to close
Chinese visit seals end of chilly ties with Australia
Mich. teen guilty in beating death of homeless man
Google Voice call blocking limited, company says
| Technology
|
Car bomb kills 100 in Pakistani city of Peshawar
Al Ittihad to meet Korean challenge in AFC Champions League final
Turmoil from climate change poses security risks
Pakistan bomb kills 105 as Clinton visits
Gunmen storm UN guest house in Kabul, 11 dead
Lawyer: Woman in sex-for-tix case has Phils fever
MoMA 82-story tower approved by NYC Council
Bob Heisse elected to APME leadership ladder
Japan shoots down missile in test off Hawaii: US
NZ household borrowing up in September
S.Korea fin min says closely watching market rates
S.Korea large firms' Nov sentiment down
Seoul shares hit 2-mth low; POSCO down on Q4 worry
S.Korea T-bonds gain on weak shares, U.S. data
Japan's factory output up for seventh straight month
Seoul shares hit 2-mth low; POSCO sinks on Q4 worry
NZ cenbank sees rate on hold until H2 2010
NZ's Auckland Intl Airport repeat 2010 net guidance
China Security & Surveillance shares drop
Gritty drama a "Precious" commodity in Hollywood
Cancer "didn't beat" Patrick Swayze, wife Lisa says
This Is It a fascinating look at work in progress
| Entertainment
|
Stand-off refugees can't choose destination: Australia
Indonesian police foil human traffickers
Movie makes Taiwan relive 'White Terror' period
Google gets its groove on with music search
Gritty drama a "Precious" commodity in Hollywood
French prison drama wins London festival award
4 charged with burglarizing celeb homes
Lilith Fair returning in 2010 with 18-city tour
| Entertainment
|
Tight pants a no-no for women in Indonesia's Aceh
Fewer holiday gifts but more cheer in US, poll
Gritty drama a Precious commodity in Hollywood
| Entertainment
|
Church plans Christ the Redeemer upgrade in Brazil
"New Moon" rises to No. 1 on Billboard 200
Cancer "didn't beat" Patrick Swayze, wife Lisa says
French prison drama wins London festival award
| Entertainment
|
"This Is It" heats up box office on first day
, Microsoft extend talks on Web search agreement
Afghanistan calms security fears after hostel attack
Iran proposes big changes to draft atom deal: report
| International
|
Deutsche Bank reveals crisis-beating results
Nintendo interim profits plunge more than half
Afghanistan calms security fears after UN hostel attack
Iran to propose two amendments to IAEA deal: report
Iraq says 153 people died in Baghdad bombings
Zero-emission scooter to debut in Japan
Russia, Ecuador praise ties but no rebel recognition
Afghan, Pakistan carnage raises heat on Obama
Iraq arrests senior officers, vows more over blasts
| International
|
Honduras lodges lawsuit against Brazil at U.N. court
| International
|
U.N. must act on Zimbabwe: expelled rights expert
| International
|
UN chief says Iran should accept uranium plan
Stasi files still cast shadow, 20 years after Berlin Wall fell
| International
|
Philippines sends relief teams in path of typhoon
| International
|
Sudan cautiously welcomes African Darfur proposals
| International
|
China's Hu invites North Korea's Kim to visit: report
| International
|
Salsa, karaoke out as U.S. eyes austere Afghan war
| International
|
NBA introduces live games on U.S. mobile devices
| Technology
|
Car bomb in crowded Pakistan market kills 100
Leader Of Muslim Fundamentalist Group Killed In FBI Raid
Study: 17,000 Children Died Because They Lacked Health Insurance
Nintendo cuts forecast as Wii loses sparkle
| Technology
|
Obama Honors Fallen Soldiers In Surprise Visit To Dover
U.S. To Pay Taliban Fighters For Allegiance
Government's Star Witness In Ted Stevens Trial Sentenced
White House Calls AP Story On Overstated Stimulus Jobs 'Misleading'
Costume Face Paints May Contain Toxic Metals
EPA Announces Green Parking Lot Study In Effort To Protect Water Sources
Obama Signs Bill Making Gay Attack A Hate Crime
Kenya Slams 'Uninvited' U.S. Diplomat Over Visa Ban Announcement
Japan's Mitsubishi, Mazda see red in first half
Ailing JAL to seek help from state agency
Japan's Hitachi posts $1.5 billion interim loss
TABLE-Foreign trading in Taiwan stocks
Nintendo profits sink on Wii woes
Philippines aiming to join China's resource boom
Miley Cyrus voted worst celebrity influence of 2009
| Entertainment
|
China's Geely faces Volvo safety image challenge
John Lennon film brings London festival to an end
| Entertainment
|
Japan's NEC posts big interim loss
Pakistan's FY09/10 GDP projected at 2.5-3.5 pct
Sean Penn wants to shoot film in Venezuela: Chavez
'Red' German farm scores 'green' success
Did India invent the nose job?
Art trade bounces back, still not a pretty picture
US-ENTERTAINMENT Summary
"Little Miss Sunshine" to play Helen Keller on Broadway
Disney wants to build production studio outside LA
Tigres del Norte nix Mexico show, cite censorship
Jackson case MD due in court child support case
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