And more bad news for European cohesiveness. From Reuters: "Chancellor Angela Merkel's Christian Democrats
will lose control of Germany's most prosperous state to the centre-left
opposition in a major upset to her centre-right government, according to
TV exit polls. In Baden-Wuerttemberg state, the Greens and Social Democrats (SPD) looked set to win a combined 48.5 percent in an election on Sunday where Japan's nuclear disaster played a major role. The centre-left has long pushed to end the use of nuclear power. The Christian Democrats (CDU) and their Free Democrat coalition partners, big backers of prolonging the use of nuclear power in Germany, won a combined 43 percent of the vote, network ARD said shortly after polls closed at 1600 GMT." For Merkel, this is probably the last nail in the political coffin as the troubled premier is no longer able to placate either a broader Eurozone demanding far greater taxpayer concessions from her citizens in preventing the fall of the Euro (and the return of the Deutsche Mark, which would surge upon reimplementation, crippling Germany's export market, as a the old system reasserts itself), nor can she convince her own people that she has their best interests in mind, with the latest flap over nuclear power plants certainly not helping.
The Christian Democrats (CDU) and their Free Democrat coalition partners, big backers of prolonging the use of nuclear power in Germany, won a combined 43 percent of the vote, network ARD said shortly after polls closed at 1600 GMT.
The CDU, which has ruled the state for 58 years uninterrupted, took 38 percent and the FDP 5 percent. The Greens finished second with 25 percent and could lead a government in one of the country's 16 federal states for the first time. The SPD, their likely allies, took 23.5 percent, ARD said.
In another state election on Sunday in Rhineland-Palatinate, the SPD held onto power with a comfortable victory over the CDU and will likely form a coalition with the Greens.
With 4 hours until EURUSD resumes trading, many will be keeping their eyes glued to the first bid, following both this news, which was not totally unexpected, as well as the earlier "stunner" reported out of Ireland, which most certainly was not.