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Businessmen Regret Leaving Merkel in Peril Over Euro (Update1) - Bloomberg.com

Jan. 25 (Bloomberg) -- German executives are standing on the sidelines as Chancellor Angela Merkel struggles with an electorate questioning the cost of bailing out debt-laden neighbors to save the euro.

German companies were among the greatest advocates of the single currency at its inception in 1999, having contended for decades with a surging deutsche mark that hammered exports every time European neighbors devalued their way out of recession. Now that they've reaped the benefits of the euro, executives are questioning whether they should be doing more to back up Merkel.

"We've forgotten to stress how important the euro is and how good it is for our business," said Joerg Schneider, chief financial officer of Munich Re, the world's largest reinsurance company. "We haven't pointed out enough that the euro is a massive export-support instrument for Germany."

by afew (afew(a in a circle)eurotrib_dot_com) on Tue Jan 25th, 2011 at 03:13:21 PM EST

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