Monday 25 September, 2017 Update: Germany’s Trump Moment

APTOPIX Germany Election

German Chancellor Angela Merkel was reelected to her fourth term in office yesterday as federal elections were held across Germany. Her victory appears to be pyrrhic, however. Her  Christian Democratic Union and Christian Social Union (CDU/CSU) garnered only 33% of the vote and will be allotted 246 seats in the Bundestag. Even though these numbers represent the largest share of the vote it will not be enough to form a majority government. To complicate matters even more, the far right Alternative for Germany (AfD) party’s share of the vote was 13% and it will hold 94 seats in the Bundestag. This is especially staggering since before yesterday AfD held no seats. Now it is the third largest political  party in Germany.

Merkel’s victory speech was muted. She stated that she’d expected and hoped for a ‘better result’ indicating she understands completely how murky the election results are for her and her party. The Bild, a German tabloid, labeled it a ‘nightmare victory’ and financial markets have responded negatively to the election results. The euro is currently down against the dollar and investors could be getting antsy at the prospect of a convoluted political future for Germany. The German Chancellor now has to form a coalition government with smaller parties, or attempt to run a minority government. A minority government is the least likely scenario seeing how German politics are driven by consensus and always have been since the end of World War II.

Merkel’s power will be severely eroded by yesterday’s results. She’ll be left walking a fine line between the quicksand traps of policy uncertainty and an unstable government. If she loses her balance and either one become a reality, early elections will likely be called, signaling the end of the Merkel era.

To the surprise of many political observers, the populist wave that was rolling across Europe in 2016 and early 2017 and appeared to dissipate when Emanuel Macron claimed victory in the French elections earlier this year, came to life yesterday. Anti-immigration sentiment in Germany is high, and many voters are tired of Merkel lecturing them that it is Germany’s ‘duty’ to take in hundreds of thousands of Syrian immigrants. Crime has spiked in the Federal Republic over the past twelve months, and across Europe terrorist attacks are on the rise. These actions have convinced many German voters that a change is necessary.

Germany’s ‘Trump Moment’ came yesterday. It arrived not in the form of a Brexit-like tsunami,  but instead, like a thief in the night. And it could very well be the beginning of the end for Angela Merkel’s rule.

 

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