The British government is becoming ever more gloomy about the prospects for the euro,
believing that Angela Merkel will not do what she has to if the single currency is to survive: namely, let the ECB intervene massively in the markets. Whether it’s because of Germany’s
inflation-scarred history, or the hope that market pressure will force reforms in many European states, the Chancellor is holding back. And, it seems, she is getting more and more popular by
sticking to her policy.
Mrs Merkel’s popularity is, indeed, related to her handling of the Eurocrisis. In Germany she is seen as having shown the kind of leadership people want, and the recent CDU party conference
cemented her status.
But there is more the Merkel’s bounce than that. Just consider the latest poll numbers. Merkel’s CDU/CSU are hovering around 31 per cent in Forsa surveys, while the centre-left SPD are at 27 per cent.
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