Germany's opposition and the euro crisis

Written by Katinka Barysch [1], 26 November 2012

Although Germany’s next general election is not scheduled until October 2013, the campaign started in earnest on 28 September 2012. On that day, the opposition Social Democrats (SPD) chose Peer Steinbrück as their candidate for the chancellorship, dismissing the other two members of the party’s leadership trio. Steinbrück promises not only more social justice at home but also quicker and more sustainable solutions to the euro crisis: less pain for Greece and Spain, a bigger rescue fund, a genuine banking union and deeper political integration. Could a Steinbrück-led government, together with France’s Socialist President François Hollande, offer a pro-growth alternative to Merkel’s austerity-focused euro strategy?