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The FT already has that spin:


Voters rebuke Merkel for Greek loan

Angela Merkel, the German chancellor, was facing a bruising defeat on Sunday in a critical regional election after widespread public anger over her decision to lend money to Greece.

So is the rebuke about lending money, or about lending it too late?
The narrative here matters a lot, as it's about what kind of Europe the Germans want!

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sun May 9th, 2010 at 05:29:02 PM EST
There are a lot of narratives fighting here. I don't think I am cynical if I think most of public opinion doesn't want to give the money. But the SPD would like to emphasize that their abstention was about lack of financial controls and bank responsibility going with the money. And the election winners in NRW want to emphasize that the result has nothing to do with Greece, while the losers claim the opposite.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Sun May 9th, 2010 at 05:34:59 PM EST
[ Parent ]
The "lending" should have come directly from the ECB, making the question of whether and when Germany should lend irrelevant. But nobody's talking about this.

When there is a run on a bank, the Central Bank may decide to intervene. When there is a run on a country, the Central Bank may not?

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Sun May 9th, 2010 at 05:38:34 PM EST
[ Parent ]
Greece must be destroyed in order to rebuild it to fulfill our plan of a world of trade surpluses.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Sun May 9th, 2010 at 05:50:54 PM EST
[ Parent ]
We have always been at war against Undue Regul... A few bad appl...Greek profligacy.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Sun May 9th, 2010 at 10:37:17 PM EST
[ Parent ]
Is it really at all conceivable that people voted to punish Merkel for not bailing out Greece sooner?  Granted, I don't live there, but that strikes me as the kind of sentiment you don't come across much in politics.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Sun May 9th, 2010 at 05:52:18 PM EST
[ Parent ]
Being seen as indecisive and dithering is always a bad thing. Also it does not need a lot of insight to come to the conclusion that the government had a shit-sandwich prepared, but wanted to wait after the election to serve it.
by generic on Sun May 9th, 2010 at 07:01:24 PM EST
[ Parent ]
From watching German TV Greece wasn´t a "major" issue. At least if election analysts are right.

They say it was a combination of local issues (education, unemployment, CDU scandals) plus general dissatisfaction with the (federal) Merkel government.
Here they cite the FDP problems (Westerwelle and "Roman decadence", donations from hotel owners and tax cuts for hotels) and the feeling that Merkel doesn´t seem to be in control of the coalition government.
Greece probably played a role when coupled with the "not in control" feeling.

by Detlef (Detlef1961_at_yahoo_dot_de) on Sun May 9th, 2010 at 06:38:15 PM EST
[ Parent ]
The gutter press - normally reliable CDU boosters - has been waging a vicious campaign against aid for Greece. So a lot of those people probably (we'll need to see the polling data) stayed away or voted SPD.

Of course, if Merkel had bit the bullet 3 weeks ago, she would have had some breathing room in which to reconcile her disgruntled voters.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Mon May 10th, 2010 at 02:52:25 AM EST
[ Parent ]
There are reports that the CDU was hit mostly by abstention, and that in its rural bases.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Mon May 10th, 2010 at 01:42:23 PM EST
[ Parent ]
Yeah, I can see that.

Simply not going to the polls between church and the Sunday skat game in the pub.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt št gmail dotcom) on Mon May 10th, 2010 at 02:30:13 PM EST
[ Parent ]

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