With their economy appearing to slow dramatically, if the PMI and Ifo data is anything to go by, and a nation increasingly disavowed with the European project, it seems the 'people' are not amused. As MNI reports [3], a poll by Forchungsgruppe [4] shows Merkel's CDU/CSU support fading. Critically, with only 40% backing Merkel, and the 'Merkel bloc' down to only 44%, the opposition and more anti-Europe SPD party gained a point and shifted their 'bloc' vote to 48%. Given that the mainstream parties have excluded a coalition with the Left party, such results would allow only coalitions of Merkel's CDU/CSU with the SPD or the Greens. This raises the question of whether Merkel becomes more hard-nosed in her treatment of European bailouts, cow-towing to her populist needs (especially as Euro membership remains the most popular 'concern' for Germans); or eases the pressure in the hope of a short-term juice of markets believing in joint-debt dreams into the election. We suspect the former, especially given the clear signals from the people as the 'Alternative for Germany' party gathers more headlines [5] - if not representative votes.
[6]
and Euro membership remains the most pressing concern for Germans
[7]
Source: Forschungsgruppe [8]