Berliner Boersenzeitung - New German leader Merz stumbles out of the blocks

EUR -
AED 4.097816
AFN 72.527946
ALL 90.712998
AMD 404.811747
ANG 1.99706
AOA 1024.313507
ARS 1724.662178
AUD 1.623096
AWG 2.008458
AZN 1.91877
BAM 1.953926
BBD 2.256892
BDT 139.72599
BGN 1.950247
BHD 0.422793
BIF 3352.449481
BMD 1.11581
BND 1.432668
BOB 13.291252
BRL 6.230345
BSD 1.120725
BTN 105.323984
BWP 15.375116
BYN 3.355477
BYR 21869.872723
BZD 2.253918
CAD 1.585326
CDF 2583.100203
CHF 0.922108
CLF 0.0279
CLP 1098.064116
CNY 7.442842
CNH 7.446837
COP 3690.831133
CRC 506.911552
CUC 1.11581
CUP 26.896962
CVE 110.159347
CZK 24.353609
DJF 199.538223
DKK 7.475346
DOP 67.974501
DZD 152.322563
EGP 59.441086
ERN 16.737147
ETB 179.813105
FJD 2.521675
FKP 0.837623
GBP 0.836361
GEL 2.900602
GGP 0.837623
GHS 13.123413
GIP 0.837623
GMD 82.569707
GNF 9928.433203
GTQ 8.563787
GYD 234.834771
HKD 8.754365
HNL 30.127233
HRK 7.552928
HTG 146.895822
HUF 364.308582
IDR 20253.064275
ILS 3.538138
IMP 0.837623
INR 104.639586
IQD 1698.955315
IRR 2126817.227366
ISK 136.806464
JEP 0.837623
JMD 177.867814
JOD 0.7911
JPY 177.20958
KES 144.999439
KGS 97.577343
KHR 4570.636808
KMF 493.187739
KPW 1004.228806
KRW 1489.840304
KWD 0.347051
KYD 0.933896
KZT 500.345637
LAK 25225.015582
LBP 100356.101099
LKR 372.449448
LRD 190.51557
LSL 18.372503
LTL 3.294696
LVL 0.674942
LYD 7.18411
MAD 10.932215
MDL 20.138054
MGA 5121.567239
MKD 61.529349
MMK 2342.916727
MNT 4020.769368
MOP 9.055134
MRU 45.209437
MUR 52.587814
MVR 17.179495
MWK 1943.318757
MXN 20.739588
MYR 4.546978
MZN 71.31144
NAD 18.372914
NGN 1501.914249
NIO 41.006083
NOK 10.604989
NPR 168.517621
NZD 1.990159
OMR 0.428949
PAB 1.120725
PEN 3.819334
PGK 5.019192
PHP 70.494669
PKR 309.947231
PLN 4.396012
PYG 6917.311752
QAR 4.085282
RON 5.343504
RSD 117.623643
RUB 92.835034
RWF 1658.09487
SAR 4.192115
SBD 9.027735
SCR 15.61324
SDG 671.145774
SEK 11.024313
SGD 1.430513
SHP 0.836094
SLE 25.547314
SLL 23397.979196
SOS 640.479979
SRD 41.894194
STD 23095.010728
STN 24.476306
SVC 9.806507
SYP 14507.759094
SZL 18.378373
THB 37.519083
TJS 10.29923
TMT 3.905334
TND 3.347703
TOP 2.686602
TRY 56.050138
TTD 7.600642
TWD 36.644646
TZS 2951.791192
UAH 50.972855
UGX 4572.61443
USD 1.11581
UYU 45.346102
UZS 13419.768365
VES 1004.776153
VND 28606.016684
VUV 133.693197
WST 3.109828
XAF 655.957
XAG 0.021063
XAU 0.000275061032
XCD 3.015532
XCG 2.019745
XDR 0.788935
XOF 655.957
XPF 119.331742
YER 263.891149
ZAR 18.441943
ZMK 10043.624196
ZMW 22.830625
ZWL 359.290311
SSP 6410.771031
MXV 2.330291
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

New German leader Merz stumbles out of the blocks
New German leader Merz stumbles out of the blocks / Photo: Odd ANDERSEN - AFP

New German leader Merz stumbles out of the blocks

Germany's conservative new Chancellor Friedrich Merz has pledged to end months of political paralysis and rebuild Berlin's international standing, but got off to a bruising start on Tuesday.

Text size:

Having vowed to hit the ground running, the 69-year-old instead stumbled when he lost an initial parliamentary vote to elevate him to the chancellor's office, a first in post-war German history.

After a long day of high political drama and a tense second vote in the Bundestag, Merz scraped through, visibly relieved to achieve his decades-old goal to lead Europe's top economy.

Merz will be hoping the episode was just a bump in the road as he sets out to build a "Germany we can be proud of again", his motto in the campaign leading up to February's election.

He has vowed to reboot Germany's ailing economy, strengthen the threadbare armed forces and curb irregular immigration, signalling a rightward shift in the way the country is governed.

Six months since the collapse of ex-chancellor Olaf Scholz's government, Merz has also pledged to swiftly rebuild Berlin's role on the European and world stage.

But the first-round rejection by MPs dealt an early blow to Merz as he seeks to get to grips with myriad challenges facing Germany in a world upended by US President Donald Trump.

"Merz is now considered damaged, a chancellor without a stable alliance -- and his popularity ratings are already not good," judged news weekly Der Spiegel.

- Business background -

It was a humiliation for the former BlackRock board member, who has a strong business background but has never held a government leadership post.

Still, Merz has previously shown his will to overcome setbacks.

He made a political comeback after being sidelined from power in the early 2000s by long-time party rival Angela Merkel, who went on to rule for 16 years.

Merz has vowed a return to the old-school conservative roots of their Christian Democrats (CDU) and overturn much of her legacy, especially her open-door policy to migrants.

In a political gamble, he pushed a non-binding parliamentary motion demanding an immigration crackdown earlier this year with the support of the AfD -- a move widely condemned as breaking a long-standing taboo against co-operating with the far right.

Merz has also vowed a "zero tolerance" law-and-order drive and to limit "woke" policies.

- Hobby pilot -

A millionaire and amateur pilot who owns a private jet, Merz has faced criticism for being aloof and out of touch.

He sought to soften his image on the campaign trail, sometimes showing up with a beer in hand at campaign events.

His approach paid off and his CDU/CSU alliance went on to come first in the February elections. To win a majority, it then forged a coalition government with the centre-left SPD.

But he shocked many Germans by swiftly moving to push changes to the "debt brake", which limits how much the government can borrow, laying the ground for vast extra outlays in defence and infrastructure.

During the election campaign, Merz had pledged not to touch the debt rules, and the move him an easy target for criticism from the AfD, which came second in the February election.

Merz, a Catholic, lives among the hills and forests of the Sauerland region of North Rhine-Westphalia state.

At 198 centimetres (six foot six), Merz stands out in a crowd.

He has been married for more than 40 years to Charlotte Merz, a judge, with whom he has three adult children.

A trained lawyer, he was elected to the European Parliament in 1989 and soon after to the Bundestag, where his mentor was the late CDU powerbroker Wolfgang Schaeuble.

When he lost the internal battle against Merkel, Merz took a break from politics and went into the business world, serving on multiple corporate boards.

A free-market liberal who wants to slash red tape to help Germany Inc, he outlined his views in a 2008 book titled "Dare More Capitalism".

Merz has sought to turn his long stint in the business world into a key selling point, said political scientist Antonios Souris of Berlin's Free University.

"He likes to flirt a little with this role of having returned to politics as an outsider, as an experienced captain of industry, not just a career politician like Scholz," he said.

(A.Lehmann--BBZ)