Germany Relieved by Obama Reelection

European leaders are aware that with US unemployment and growth at alarming levels the well being of Europe is not high on the President’s mind. They knew that a reelected Obama had a better chance of being persuaded to engage in talk than an unknown factor such as challenger Romney.

The other big question mark will continue to be, who will be the next US Treasury Secretary. Geithner did not have an stellar track record dealing with his European counterparts and right now a change is seen as a good thing that is, until the list of potential candidates is released.

German newspaper Spiegel features a piece that highlights the expectations of German politicians and review US President Obama’s international track record.

Obama’s win over challenger Mitt Romney has been met with relief among politicians in Berlin for a simple reason: The Republican candidate was considered by some in the German government and the governing coalition to be an enigma on matters of foreign policy, while Obama is a known factor — even if his first term hasn’t exactly dazzled the world with an energetic approach to foreign policy.

via Spiegel

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza