Macro Hive Conversations With Bilal Hafeez Wolfgang Münchau on Germany’s Political Risks, Fiscal Stimulus and Euro Instability
Apr 30, 2021
Wolfgang Münchau, co-founder and director of Eurointelligence and former Financial Times columnist, dives into Germany's political landscape. He critiques the CDU's leadership under Armin Laschet and highlights the rising Greens and their fiscal agendas. The discussion expands to the political fallout from the COVID-19 response, including public trust issues. Münchau also questions the stability of the Eurozone amidst these political shifts, pondering the need for a fiscal union to address economic disparities.
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German Leadership
- Armin Laschet, the CDU leader, is unpopular, and the party is struggling.
- His focus on traditional industries like coal contrasts with the modern focus of Markus Söder.
Laschet's Nomination
- Laschet won the CDU nomination not for electability, but due to internal power dynamics.
- Party members prefer a short-term leader over Söder, who might hold power for a longer time.
Potential CDU/CSU Split
- A CDU/CSU split is unlikely before the election but possible if Laschet performs poorly and Söder well.
- The CSU might become a national party if they believe Laschet is costing them seats.
