The Social Democrats are using their control of the Bundesrat (upper house) to stymie Chancellor Helmut Kohl's economic initiatives. On Nov. 30, the SDP, taking a populist stance, torpedoed Kohl's pro-business tax reforms as well as a plan to streamline the Bundesbank. The political gridlock is shaking business confidence and diverting Kohl's attention from European issues. Bonn is starting to look like Washington on the Rhine.
Before it's here, it's on the Bloomberg Terminal. LEARN MORE