The End of Merkel? Maybe Not

   on July 01 2012 1:09 PM

Chancellor Merkel from Brussels, We had an interest in finding solutions.

Angela Merkel is being portrayed as the loser of a Eurozone showdown in Brussels after the German Chancellor accepted the crisis-fighting measures championed by countries struggling with their debts.

Newspapers in Spain, Italy and France on Saturday toasted the triumph of their leaders; Mario Monti, Mariano Rajoy and Francois Hollande in pushing Merkel into a U-turn.

German newspapers said Ms. Merkel had been made to accept demands for the Eurozone rescue fund to be able to inject aid directly into stricken banks from next year and intervene on bond markets to support troubled member states.

The Summit ended Friday with agreement on new steps to try to prevent a breakup of the Euro.

Popular at home in Germany for insisting on austerity measures and tough conditions for those indebted Eurozone states getting help, Ms.Merkel put a positive spin on the Summit, telling reporters: We had an interest in finding solutions.

There was no sign that the Summit had damaged her reputation Friday as both houses of parliament voted to back the Eurozone's permanent bailout scheme. And Ms. Merkel does not face any particular political challenge at the moment.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

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