In Euro election news, the main focus today is on Spain, where the ruling socialists were trounced.But regional elections in Bremen (Germany) had a mirror image result: There Angela Merkel’s ruling conservative party dropped to third behind the Social Democrats and The Greens, picking up just 20.2% of the vote, for its worst result since 1959, according to Bloomberg.
This is the 5th straight defeat for Merkel this year in regional elections, and it speaks to the fury over bailouts, even as unemployment hits its lowest levels since re-unification.
So, more crisis in Europe: Spain will soon be digging up the proverbial dead bodies from the previous government, exposing more debt to the world, while German leaders are being pressured to do a U-Turn on bailouts.
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