Euro rallies after German election, focus turns to debt brake

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Euro rallies after German election, focus turns to debt brake - Channel News Asia

Quick Summary:

LONDON : An election win for Germany's conservatives eased concerns of political gridlock on Monday, but failed to lift uncertainty around whether a new government can deliver the fiscal reforms markets see as vital to boosting an ailing economy.

"There is an immediate relief that there were no big nasty surprises in the election outcome, and a centrist-leaning government will persist and could even pivot more towards business and investment friendly policies," said Charu Chanana, Saxo's chief investment strategist.

Europe's largest economy contracted for a second straight year in 2024, with critics blaming the debt brake for years of underinvestment.