Seehofer to remain in coalition if CDU backs down on immigration - German Press

Joshua Gibson FXStreet

Further developments in the German coalition disagreement are being reported by the German media group DPA, with Seehofer reportedly threatening to abdicate his position as head of the CSU as well as his position as Germany's Interior Minister unless Angela Merkel's CDU makes concessions on immigration.

Seehofer, head of the CSU, the other side of Germany's ruling coalition alongside Chancellor Angela Merkel's CDU, has threatened to abandon his position within the coalition government, which would deal a harmful blow to Merkel's already-strenuous political position, unless the CDU agrees to make concessions on current immigration agreements that Merkel has made with other EU partners, despite the CSU's growing disagreement with the moves.

Merkel will have to find a way to make the CSU leadership satisfied with the current immigration policies if her CDU party is to maintain the current agreements as they have already stated that they wish to do.

The Euro has opened the new trading week on a bearish note on the headlines, ending Friday's bullish recovery and taking the pair back away from the 1.1700 barier.

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Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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