Merkel to Skip Davos Denies Cologne Inspired Decision

The German government has denied media reports suggesting that Chancellor Angela Merkel has canceled her trip next week to the World Economic Forum in Davos, Switzerland, due to political pressures at home.

On Sunday, the Financial Times ran a front page story with the headline “Merkel cancels Davos trip as pressure rises over handling of Cologne attacks,” saying that the German Chancellor had canceled her regular trip to the World Economic Forum following the spate of sexual assaults on German women on New Year’s Eve, allegedly carried out by men of Arab or North African origin.

However, the German government denied that she had canceled her trip to Davos as a result, saying she had no plans to attend the summit this year anyway.

“This year, Merkel never planned to got to Davos so no trip has been canceled,” a German government spokesperson told CNBC on Monday. “The president (Joachim Gauck) will be there instead in her place.”

via CNBC

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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