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Mar 28 2011

Let us see the back of Schäuble

Published by at 8:27 am under Europe,Opinion,Top Stories

Germany and the EU really can’t afford finance minister Wolfgang Schäuble one minute longer. He hasn’t got enough energy…the world is turning too fast for him. Yesterday’s election setback (from the perspective of the governing parties) has opened the way for Schäuble to announce his retirement from politics. Hopefully, he’ll take the gap.

I don’t know who is savvy enough to take his place. As I’ve said before, Peer Steinbrück would have been the optimal candidate. But, he belongs to the wrong political party. That should not stop Angela Merkel from accepting Schäuble’s resignation – too much is at stake.

This morning’s FTD reminded everyone (yet again) that Germany and the EU is in desperate need of Steinbrück, or someone of his calibre. The news that there are fundamental flaws in the 3-day old “improved, expanded, souped-up” plan to save the Euro is scary. And that after the German government had been so vocal about what it wanted in this new plan and what not. Now we must read the plan won’t pull private sector credit providers in effectively.

Zig-zag courses and shoddy work has been the hallmark of the Schäuble regime for too long. Please, Frau Merkel…it’s beyond midnight.

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