Uh-Oh: Germany's Big Opposition Party Just Announced Opposition To Aid Package

angela merkel

Photo: AP

This is an interesting development.Germany’s left-wing opposition party has announced opposition to the aid package that’s scheduled to be voted on tomorrow.

From MNI, via ForexLive:

Germany’s largest opposition party, the centre-left
SPD, said Thursday that it will not vote for the government’s bill on
financial aid for Greece tomorrow after all.

SPD parliamentary leader Frank-Walter Steinmeier said the
government had declined his party’s request to pass a resolution in
parliament on introducing a financial transaction tax.

Thus, the SPD will advise its parliamentarians to abstain from
voting for the government’s Greece aid bill, Steinmeier explained. Only
this morning the SPD had still signaled that it might support the bill.

The article  goes on to note that the majority conservatives can still go it alone and pass the measures. But note the symmetry to TARP, when the majority Democrats were forced to largely go it along (along with President Bush) in passing the financial rescue.

Watch that vote, and let’s see whether we get yet another political fiasco.

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