This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Merkel, German Election Rival Debate Euro Crisis

By GEIR MOULSON

BERLIN (AP) â¿¿ Chancellor Angela Merkel and her center-left rival sparred over Europe's debt crisis and how best to keep Germany's economy strong as they faced off Sunday in a televised debate ahead of Sept. 22 elections, with Merkel's challenger insisting that it makes no sense to apply a "deadly dose" of austerity to eurozone strugglers.

Challenger Peer Steinbrueck went into the 90-minute debate â¿¿ the pair's only direct TV encounter of the campaign â¿¿ facing a daunting poll deficit and needing a strong performance after a summer in which the opposition has struggled to land blows on the popular conservative incumbent.

Neither contender scored a knockout blow or made a major mistake, and polls conducted by broadcasters showed no clear winner. In his opening statement, Steinbrueck portrayed Germany as having "gone round in circles, without direction" under Merkel's center-right coalition over the past four years.

Merkel has benefited from a healthy economy, low unemployment and perceptions that she's managed Europe's debt crisis well. She touted that record as the debate opened, pointing to high employment and portraying Germany as "the motor of growth" and "the anchor of stability" in Europe.

Merkel's finance minister last month said that there will have to be a third aid program for Greece after the current one ends last year â¿¿ something that the chancellor again insisted is nothing new.

Germany, with Europe's biggest economy, is the biggest contributor to the 17-nation eurozone's rescue programs. Merkel has pursued a hard-nosed approach â¿¿ insisting that struggling countries get their finances in order, take responsibility for their own problems and enact economic reforms.

Steinbrueck asked "whether, with the announcement of a third Greek package, we shouldn't admit to ourselves that the crisis strategy to date â¿¿ largely put forward by this government â¿¿ has failed." He argued that "what is lacking is a rebuilding program, what is lacking is a growth impulse, what is lacking is the fight against youth unemployment."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,788.61 +69.61 0.39%
S&P 500 2,061.96 +9.21 0.45%
NASDAQ 4,715.2680 +13.4010 0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs