Germany – Politics/Reform
German constitutional reform devolves powers to the states On 30 Jun the German Bundestag passed the constitutional reform, disentangling powers between federal government and Länder (states) and helping to streamline legislation in the future. Apart from small amendments regarding federal competences in universities the act follows the initial draft, presented 16 Feb (see EZA726/21Feb06). Criticism from both the unions and the political left-wing as against endorsement from the employers association implies the market-friendly potential of the reform.
SummaryAsset conclusions: streamlining of German political decisions and competition for sound politics could be seen as market positive
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© Graham Bishop
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