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German economy has a new man at the wheel

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German economy has a new man at the wheel


Karl-Theodor zu Guttenberg is set to become the country’s youngest ever Economy Minister after Chancellor Angela Merkel was forced into a cabinet reshuffle.

Merkel is hoping the 37-year old will guide Germany through the downturn and her to election success in September. “Mr. zu Guttenberg has had alot of international experience and I think that this will go a long way in helping him in the fight against the global financial crisis. I am sure that his work will be excellent and for this he has my complete trust and support,” she said. Zu Guttenberg replaces Michael Glos who handed in his notice to Merkel this morning. Glos was criticised for perceived inaction in the face of the current crisis. While he and Merkel shared their differences over how best to revive Europe’s largest economy, his resignation was an unwelcome setback for the Chancellor.

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