Germany On The Road To Reform?

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“Voting for the C.D.U. Sunday meant putting a stop to Schr?der’s reform agenda…..But in the future, if the C.D.U. has power, there is no stopping the reforms.” says Morgan Stanley’s Elga Barsch (remember her?). This argument draws attention to an important enigma which must be puzzling a lot of people. As the New York Times puts it:

“If voters are angry about economic legislation that rolls back the social welfare state, and they take out their anger on the governing party, does that make more such legislation inevitable?

As undemocratic as that might sound, investors in Germany seem to think so. As financial analysts said chances of new legislation had increased, the country’s stock market rallied Monday after a stinging defeat in regional elections for the Social Democratic Party of Chancellor Gerhard Schr?der, which led him to call for national elections in the fall.”
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Just in time.

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Well timed ahead of the French referendum, Deutsche Bahm AG and la SNCF are demonstrating what “ever closer union” can be about… increased quality of life (AP via IHT):

A new high-speed train line will link France and Germany beginning in 2007, cutting travel time between Paris and Frankfurt to under four hours, officials said Monday. … Currently, the fastest train connection between Paris and Frankfurt via Saarbr?cken and Mannheim takes 6 hours, while passengers to Stuttgart have to go via Strasbourg.

The Euro-vision and the Vote

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The referendum battle continues its course. Le Monde notes the importance of the fact that whilst the ‘no’ vote seems to be consolidating its lead in France (see this FT graph), with only one week to go one fifth of the votes still declare themselves to be ‘undecided’.

Meantime the normally sobre EU Observer, lets it hair down for once to suggest that the Dutch No Looks Irrerversible, especially after a row surrounding the Eurovision song contest.
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The FT Sees It Differently

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Actually the FT isn’t giving any apparent credence to the Times story, focusing on the embarrasing position the UK government might find itself in if there is a ‘no’. “Senior government officials are warning that if the French public votes No in its referendum on the European Union constitution, it could undermine Britain’s presidency of the EU in the second half of the year.”

Otoh EUPolitix seems to give it ‘some’ credence.

Le Petit ‘Non’

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Well, if you believe Times (and after last weeks episode with the Independent I believe no-one), le petit ‘non’, like its equivalent le petit mensonge, is not all that serious after all. According to the Times, Britain is working with other European states to draw up plans to keep the European Union constitution alive if there is a narrow ?non? vote in France next week. Just a soupcon of ‘no’ will, in the end ‘help the medicine go down’.

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