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Your current location :Home > News > The euro strengthened against the dollar

The euro strengthened against the dollar

Chancellor Angela Merkel's conservative party took about 42% of the vote, but finished just short of an absolute majority, official results show.
But she might yet have to seek a grand coalition with the Social Democrats (SPD) who won about 26% of the vote.
"The result of Germany's election is, first and foremost, a big vote of confidence in Merkel and her handling of the eurozone crisis," said Nicholas Spiro, who runs his own research firm, Spiro Strategy. 
No other leader of a major economy has been able to reap more political dividends from an international financial and economic crisis."
past events get reviewed
But analysts are not expecting a major reaction on the financial markets.
"If the Union (Merkel's conservative bloc) gets an absolute majority the markets would view as positive the fact that a conservative, business-friendly party can achieve such strength," said Michael Heise, chief economist at Allianz.