German Conservative Chancellor Angela Merkel Wins Re-election

Angela Merkel, German Chancellor won re-election in Germany, Sunday. The victory signal a shift to more market actions for the German economy. Merkel won with 33.8% of the seats in Reichstag  along  Free Democrats 14.6%.  Merkel is seeking collation government with Free Democrats.

The Opposition Social Democrats  took 23.1%  of the seats a drop of 11 percent. The loss is the biggest for Social Democrats since 1946. The Left Party garnered 11.9% seats in Reichstag. While the Greens received 10.9%.

The Collation between Christian Democrats and the Free Democrats will seek to cut tax rates in Germany in 2010. The proposed cuts from 14% to 12%. The Marginal tax rate will rise  from 52,000 euros to 60,000 euros.

Bloomberg News


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