Germany ETF Soars on Election News

Michael Johnston submits: Over the weekend in Germany, an alliance between the conservative Christian Democratic Union and the pro-business Free Democratic Party claimed a majority in Germany’s lower house of Parliament that could set the stage for slashes to government spending and income taxes. German Chancellor Angela Merkel now has a partner who supports implementing tax cuts, not massive government spending, to spur economic growth. The FDP also shares Merkel’s desire to ease back on laws protecting workers from dismissal and establish a national minimum wage. The new government is expected to replace an uneasy alliance between the right-leaning CDU and the left-leaning Social Democratic Party. The FDP is expected to contribute to improved relations with major allies, including the U.S. through its support of a continued German presence in Afghanistan. Complete Story »

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