German Chancellor Angela Merkel received a ringing endorsement from the German people in elections on Sunday, which will remove one of the biggest question marks over markets this year.
Merkel, one of the key figures in the euro zone’s economic crisis, was voted back in with a bigger share of the vote than in 2009, according to exit polls from German broadcasters ZDF and ARD. If her Christian Democrat (CDU) party wins more than 300 seats, Merkel is on track to lead only the first overall majority government in the Bundestag, Germany’s parliament since Konrad Adenauer was voted in in 1957.
Germany, the euro zone’s largest economy, has a great deal of influence in efforts to escape the currency region’s ongoing economic woes. The country has been the biggest contributor to the bailout of peripheral economies like Greece, Ireland and Portugal.
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