| Videos | Channels | Search |
Jakobsen: Germany's inconvenient truth
Germany's elections later this month have merely suppressed the pressures that are once again about to burst into the open as far as the Eurozone is concerned. That's according to Saxo Bank's Chief Investment Officer, Steen Jakobsen, who says the country has to provide decisive vision over the coming few months. The problem is, he says, that vision is sadly lacking.
He expects Angela Merkel to win those elections and then she'll have the fight of her life in containing the Eurozone crisis. Steen believes the non-compliance of Greece, capital restrictions in Cyprus and the potential of a bailout for Portugal will all loom large in the last three months of the year. He says Germany needs directly to address each of these issues, and more, because leadership in Europe is currently "rudderless".
However, Merkel will have to take these crucial decisions amid an economic environment of low growth, rising unemployment and an ageing population. Despite being Europe's richest country, there are troubling social problems within the country, he says, which will make her task that much harder.
02:01 minutes
Tags: angela, angela merkel, autoplay, bank, cyprus, cyprus germany, deutschland, economic mess, elections, elections economy, elections germany, eurobonds, europe's leaders, europes leaders, eurozne germany, eurozone, eurozone elections, eurozone leadership, eurozone pressures, fiscal union, fourth quarter germany, german elections, german failure, german industry, germany, germany action, germany economy, germany europe, germany eurozone, germany greece, germany vision, germany's inconvenient truth, greece, greece bailout, greece germany, macros, merkel, merkel vision, owen, owen thomas, owenthomas, portual, portugal germany, q4, saxo, saxo bank, saxo jakobsen, saxo tv, saxotv, social problems germany, steen jak, thomas, tradingfloor, tradingfloor.com, useless germany