German capitalism – a success story?

Michael Roberts Blog

The German election has produced a victory for right-wing German Chancellor Mrs Angela Merkel, the best result for her party since 1990.  However, the existing coalition of Merkel’s Christian Democrat Union (CDU), the Bavarian Christian Social Union (CSU) and the small Free Democrats (FDP) cannot continue because the FDP failed to make the 5% voting share threshold to enter the German parliament (Bundestag).  The FDP vote is hugely down from 14.6% in 2009.   Most of those lost votes went to the CDU.  So even though Merkel’s CDU-CSU bloc has polled the most at about 42.5%, up from 34% in 2009, it will have to try to form a grand coalition with the opposition Social Democrats (SPD), which polled 26%, up a bit from the all-time post-war low of 23% that the SPD got in 2009.  The Greens polled badly at 8% (down from 10.7% in 2009) and were passed by…

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