Another Election

This time in Germany, in North Rhine Westphalia, the region bordering Holland and Belgium, which comprises some of Germany's large industrial cities such as Duesseldorf, Dortmund, Essen and the old capital Bonn.

Mrs Merkel could lose her majority in the Bundesrat, the upper house, today, which would dramatically weaken her position. She is rather a victim of circumstance. Having delayed implementation of the Greek rescue plan because the majority of Germans are opposed to it, she is now being criticised for dithering, and making the final plan more expensive than it need be.

Several North Rhine-Westphalia cities are on the verge of bankruptcy, and in no mood to bail out the Greeks.