Merkel's Party Wins Key State Election: German ETFs In Focus [Seeking Alpha]
iShares MSCI UAE ETF (UAE)
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Source: Seeking Alpha
German chancellor Angela Merkel's conservatives won a key state election in North Rhine-Westphalia on May 14, 2017. This state election was continuously being monitored as a prelude to the national election on September 24, 2017. Merkel's chances of being re-elected for a fourth term received a significant boost after her party beat the Social Democratic Party (SPD) in her opponent Martin Schulz's "home territory". The Christian Democratic Union (CDU) won 33% of the votes compared with Social Democrats' 31.2%. This has dealt a huge blow to Schulz, as although initially his party received a significant boost on his announcement to run for chancellor, Germany's top job, the hype seems to have abated. The Social Democrats would have been expecting to secure North Rhine-Westphalia, Germany's most populous state, as it is their stronghold and the home state of the face of their party. After the loss, Schulz urged his supporters to not lose hope and focus on the national election.
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