Zürcher Nachrichten - New German leader Merz stumbles out of the blocks

EUR -
AED 4.329505
AFN 74.270955
ALL 96.412965
AMD 442.829896
ANG 2.109909
AOA 1081.049119
ARS 1621.868228
AUD 1.669117
AWG 2.122015
AZN 2.008805
BAM 1.955049
BBD 2.36909
BDT 143.744783
BGN 1.942405
BHD 0.44363
BIF 3488.260053
BMD 1.178897
BND 1.492727
BOB 8.127878
BRL 6.104378
BSD 1.176248
BTN 106.971909
BWP 15.575017
BYN 3.373004
BYR 23106.384132
BZD 2.365691
CAD 1.613144
CDF 2687.885928
CHF 0.914379
CLF 0.025883
CLP 1021.990551
CNY 8.144706
CNH 8.131873
COP 4349.829098
CRC 561.384355
CUC 1.178897
CUP 31.240774
CVE 110.22266
CZK 24.236994
DJF 209.469536
DKK 7.474449
DOP 72.302227
DZD 153.219144
EGP 56.036475
ERN 17.683457
ETB 183.051984
FJD 2.619805
FKP 0.87456
GBP 0.874585
GEL 3.153597
GGP 0.87456
GHS 12.927034
GIP 0.87456
GMD 86.65348
GNF 10320.035759
GTQ 9.025533
GYD 246.055483
HKD 9.214084
HNL 31.119046
HRK 7.539094
HTG 154.180774
HUF 380.836877
IDR 19879.624744
ILS 3.672942
IMP 0.87456
INR 106.961933
IQD 1541.008052
IRR 49661.042612
ISK 144.993015
JEP 0.87456
JMD 183.279597
JOD 0.835885
JPY 182.758577
KES 151.621757
KGS 103.095009
KHR 4730.182992
KMF 492.779421
KPW 1061.017663
KRW 1704.909721
KWD 0.361521
KYD 0.980223
KZT 587.104475
LAK 25205.317867
LBP 105335.237518
LKR 363.940199
LRD 217.026633
LSL 18.950121
LTL 3.480977
LVL 0.713104
LYD 7.441142
MAD 10.785757
MDL 20.20224
MGA 5034.066261
MKD 61.621329
MMK 2475.775519
MNT 4205.980766
MOP 9.468963
MRU 47.097908
MUR 54.724852
MVR 18.226196
MWK 2039.716483
MXN 20.197696
MYR 4.601281
MZN 75.337468
NAD 18.950121
NGN 1583.471518
NIO 43.283374
NOK 11.229118
NPR 171.155254
NZD 1.968602
OMR 0.452986
PAB 1.176248
PEN 3.951182
PGK 5.130029
PHP 68.327115
PKR 328.738921
PLN 4.222397
PYG 7605.078657
QAR 4.287453
RON 5.100032
RSD 117.374913
RUB 90.365288
RWF 1717.940087
SAR 4.422617
SBD 9.484443
SCR 17.871135
SDG 709.110969
SEK 10.681049
SGD 1.492529
SHP 0.884478
SLE 28.887303
SLL 24720.883013
SOS 671.042232
SRD 44.368388
STD 24400.790813
STN 24.490592
SVC 10.292047
SYP 13038.101319
SZL 18.943723
THB 36.684966
TJS 11.145219
TMT 4.12614
TND 3.415188
TOP 2.838502
TRY 51.671496
TTD 7.961942
TWD 37.181831
TZS 3031.835379
UAH 50.913243
UGX 4234.373448
USD 1.178897
UYU 45.642467
UZS 14365.48178
VES 473.717869
VND 30615.958975
VUV 139.583423
WST 3.200029
XAF 655.705124
XAG 0.013965
XAU 0.000231
XCD 3.186029
XCG 2.119986
XDR 0.815487
XOF 655.705124
XPF 119.331742
YER 281.108453
ZAR 18.909381
ZMK 10611.493248
ZMW 22.272444
ZWL 379.604401
  • RBGPF

    0.1000

    82.5

    +0.12%

  • RIO

    0.7500

    97.09

    +0.77%

  • GSK

    -0.8444

    59.52

    -1.42%

  • AZN

    -2.2500

    204.2

    -1.1%

  • RYCEF

    0.4000

    18.2

    +2.2%

  • BTI

    1.0900

    62.08

    +1.76%

  • CMSC

    0.0100

    23.96

    +0.04%

  • NGG

    0.0100

    90.28

    +0.01%

  • RELX

    0.4700

    31.46

    +1.49%

  • VOD

    0.1200

    15.65

    +0.77%

  • CMSD

    0.0400

    23.8

    +0.17%

  • BP

    -0.3308

    38.18

    -0.87%

  • BCC

    -2.2500

    82.13

    -2.74%

  • BCE

    0.2300

    25.8

    +0.89%

  • JRI

    0.0800

    13.13

    +0.61%

New German leader Merz stumbles out of the blocks
New German leader Merz stumbles out of the blocks / Photo: Odd ANDERSEN - AFP

New German leader Merz stumbles out of the blocks

Germany's conservative new Chancellor Friedrich Merz has pledged to end months of political paralysis and rebuild Berlin's international standing, but got off to a bruising start on Tuesday.

Text size:

Having vowed to hit the ground running, the 69-year-old instead stumbled when he lost an initial parliamentary vote to elevate him to the chancellor's office, a first in post-war German history.

After a long day of high political drama and a tense second vote in the Bundestag, Merz scraped through, visibly relieved to achieve his decades-old goal to lead Europe's top economy.

Merz will be hoping the episode was just a bump in the road as he sets out to build a "Germany we can be proud of again", his motto in the campaign leading up to February's election.

He has vowed to reboot Germany's ailing economy, strengthen the threadbare armed forces and curb irregular immigration, signalling a rightward shift in the way the country is governed.

Six months since the collapse of ex-chancellor Olaf Scholz's government, Merz has also pledged to swiftly rebuild Berlin's role on the European and world stage.

But the first-round rejection by MPs dealt an early blow to Merz as he seeks to get to grips with myriad challenges facing Germany in a world upended by US President Donald Trump.

"Merz is now considered damaged, a chancellor without a stable alliance -- and his popularity ratings are already not good," judged news weekly Der Spiegel.

- Business background -

It was a humiliation for the former BlackRock board member, who has a strong business background but has never held a government leadership post.

Still, Merz has previously shown his will to overcome setbacks.

He made a political comeback after being sidelined from power in the early 2000s by long-time party rival Angela Merkel, who went on to rule for 16 years.

Merz has vowed a return to the old-school conservative roots of their Christian Democrats (CDU) and overturn much of her legacy, especially her open-door policy to migrants.

In a political gamble, he pushed a non-binding parliamentary motion demanding an immigration crackdown earlier this year with the support of the AfD -- a move widely condemned as breaking a long-standing taboo against co-operating with the far right.

Merz has also vowed a "zero tolerance" law-and-order drive and to limit "woke" policies.

- Hobby pilot -

A millionaire and amateur pilot who owns a private jet, Merz has faced criticism for being aloof and out of touch.

He sought to soften his image on the campaign trail, sometimes showing up with a beer in hand at campaign events.

His approach paid off and his CDU/CSU alliance went on to come first in the February elections. To win a majority, it then forged a coalition government with the centre-left SPD.

But he shocked many Germans by swiftly moving to push changes to the "debt brake", which limits how much the government can borrow, laying the ground for vast extra outlays in defence and infrastructure.

During the election campaign, Merz had pledged not to touch the debt rules, and the move him an easy target for criticism from the AfD, which came second in the February election.

Merz, a Catholic, lives among the hills and forests of the Sauerland region of North Rhine-Westphalia state.

At 198 centimetres (six foot six), Merz stands out in a crowd.

He has been married for more than 40 years to Charlotte Merz, a judge, with whom he has three adult children.

A trained lawyer, he was elected to the European Parliament in 1989 and soon after to the Bundestag, where his mentor was the late CDU powerbroker Wolfgang Schaeuble.

When he lost the internal battle against Merkel, Merz took a break from politics and went into the business world, serving on multiple corporate boards.

A free-market liberal who wants to slash red tape to help Germany Inc, he outlined his views in a 2008 book titled "Dare More Capitalism".

Merz has sought to turn his long stint in the business world into a key selling point, said political scientist Antonios Souris of Berlin's Free University.

"He likes to flirt a little with this role of having returned to politics as an outsider, as an experienced captain of industry, not just a career politician like Scholz," he said.

W.Odermatt--NZN