Germany: Can The Cdu Recover From Schroder's Tax Triumph?

Give her credit: Angela Merkel, the new chairman of Germany's Christian Democratic Union, had the guts to admit defeat. "He won, and we lost, no doubt about it," she declared on July 14, hours after Chancellor Gerhard Schroder and his Social Democrats (SPD) outflanked her and other opposition leaders to force through $40 billion in tax cuts.

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