Merkel's Influence on the German Economy
The Eurozone Crisis
After the signing of the Masstricht Treaty in 1992, countries within the EU agreed to keep government spending to a limited budget. Unfortunately, many countries have accumulated government debt that they cannot pay off. This current economic crisis is the reason Greece declared bankruptcy. Germany and the Netherlands are the only two countries in the EU who have not been drastically affected by this crisis. Germany's economy has continued to thrive. Many say that this is in part due to Chancellor Merkel's unwillingness to bailout other countries. She stresses Germany's limits to save other countries from bankruptcy and prefers to leave Germany to fend for itself.
Many people across the world are astounded by Germany's continued economic success. On April 10, 2013, CCTV News published a report discussing this unlikely success and Merkel's leadership. They also discuss the likelihood of Germany's economic success to continue. This report can be viewed below.
Many people across the world are astounded by Germany's continued economic success. On April 10, 2013, CCTV News published a report discussing this unlikely success and Merkel's leadership. They also discuss the likelihood of Germany's economic success to continue. This report can be viewed below.
Nuclear Power
On March 11, 2011, a series of equipment failures and nuclear meltdowns in Fukushima Daiichi resulted in a nuclear disaster. This kind of disaster had not been seen since the Chernobyl disaster of 1986.
In response to this disaster, Chancellor Merkel released a statement saying that by 2022, Germany will have completely removed all of their nuclear power plants. Although this only accounts for a little less than 20% of the country's power, German citizens were shocked. Currently, Merkel is spending money researching alternative energy sources. However, there have been some economic draw backs with her plan. The video below explains the repercussions of Merkel's decision.
In response to this disaster, Chancellor Merkel released a statement saying that by 2022, Germany will have completely removed all of their nuclear power plants. Although this only accounts for a little less than 20% of the country's power, German citizens were shocked. Currently, Merkel is spending money researching alternative energy sources. However, there have been some economic draw backs with her plan. The video below explains the repercussions of Merkel's decision.