In 26 days, Angela Merkel will no longer be relevant. Her sixteen years at the helm of Europe’s largest economy will be over. The departure of such a colossus, whether loved or hated, always raises the spectre of turbulence. A well-respected, experienced and fully endorsed successor inheriting a buoyant economy can mitigate the risks. That is not the case this time. The power vacuum creates a significant risk premium for German assets and the Euro.
- No candidate is Merkel
There has been no smooth path towards a popular and fully-endorsed successor . . .
To read this article, please log in or sign up to one of our subscription packages.