Investors are hoping for something big from European leaders at the EU summit on Oct. 23 and of the Group of 20 on Nov. 3. But they also know the 17 nations of the euro have a habit of offering delayed, half-hearted rescues that have cost them credibility.
Global News Journal
Rainer Bruederle is not normally someone many Germans pay a lot of attention to. The Economy Minister from the pro-business Free Democrats party, junior coalition partners in Chancellor Angela Merkel’s centre-right government, does not have a lot of clout and few of his ideas have ever gone beyond the proposal stage. Bruederle, 65, has been called one of the most ineffective ministers since Merkel’s centre-right government took power nine months ago.
But now — with the big cats out of town — Bruederele has turned into mighty mouse. He has played the German media like a fiddle, floating one trial balloon after another with a near daily deluge of newspaper interviews. With little else to write about, German correspondents are filling their columns with Bruederle.
“Koenig des Sommerlochs” (King of the summer hole) was the headline in Stern magzine’s website on Monday after a fresh batch of Bruederle proposals over the weekend. “No one has jumped into the Sommerloch with as much vigour as Bruederle,” wrote Hans Peter Schuetz of Stern magazine. “But, let’s be honest about this, Bruederle is helping journalists like me get through the Sommerloch.”
Like with most Sommerloch proposals, Bruederle’s will likely not get anywhere close to becoming law. And Bruederle knows that. He also knows his ideas will only cause tensions in the ruling coalition anger Merkel and almost everyone else in her Christian Democrats — and many of her deputies have already rejected his suggestions. But he also knows the publicity could help him raise his profile a bit.
Bruederle first said the government should scrap its 2009 promise for a guaranteed minimum pension level, an idea widely picked up in the German media for a few hours one day last week. It was summarily rejected by Merkel’s party. Yet that didn’t stop Bruederle. A few days later, in another newspaper interview, he suggested relaxing rules to allow more foreigners into Germany to counter a looming labour shortage of skilled labour, comments that filled airwaves for a few more glorious hours.
And then Bruederle criticised Merkel’s party, the coalition partners, for not having enough enthusiasm about reforms — just a few weeks after party leaders had promised to stop that very same sort of sniping that had sent the government plunging to record low levels in opinion polls. On Monday, Bruederle was at it again with a new banking proposal.
“Bruederle is doing his best to fill the Sommerloch,” wrote Sascha Raabe in the Frankfurter Rundschau newspaper. But he attacked Bruederle as a “colourless minister with an addiction to headlines”. He pointed out, for instance, that Bruederle’s ideas on cutting pensions actually contradicted the position of his own ministry, which views the steady pension levels as an important pillar of economic growth. “If Bruederle had only read the position of his own ministry instead of frightening millions of pensioners,” Raabe wrote. “Maybe it’s time for Bruederle to retire himself.”
Angela Merkel has come up with a risky – but intriguing – choice for one of the most-talked-about and closely scrutinised jobs in Germany: her spokesman.
The German chancellor is not normally known for rolling the dice with her decisions. Cautious to a fault, Merkel tends to seek consensus and the “safe road” with just about every decision she makes – whether that angers France when she first drags her feet on whether to push ahead aggressively with economic stimulus measures during the 2008 crisis or annoys Greece in early 2010 when it badly needed cash or at least strong words of support.
“Self-confident”, “smart” and “rhetorically brilliant” – just some of the adjectives the media have lavished upon Germany’s favourite politician as he has covered thousands of miles traversing the globe on his country’s behalf since Chancellor Angela Merkel’s new centre-right administration took office late last month.