Monday, April 26, 2010

The guns of May

It would certainly be ironic if Greece defaults in May due to the timing of a regional German election:

Opposition parties blame electoral politics for Berlin's lack of haste to help Greece. Ms. Merkel's party faces a tight regional election in the state of North Rhine-Westphalia on May 9. With German aid for Greece deeply unpopular in Germany, early commitment to bail out the debt-burdened Mediterranean country could change the minds of some voters and could cost Ms. Merkel her majority in the upper house of Parliament. (WSJ)

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