Add a German crisis to the risk-list

German media (Bild) reports the interior minister and Leader of the Christian Social Union, Merkel coalition partner in government, Horst Seehofer has rejected the migration deal Angela Merkel negotiated at last week’s Brussels summit.

Seehofer said the meeting he had with Merkel on Saturday evening was “futile and pointless”.

This is a political crisis for Germany, and raises questions about Merkel’s position

Germany’s Economy Minister Altmaier has weighed in, says the coalition is in a ‘serious’ condition

Minutes ago, however, the Christian Social Union announced they do not want Seehofer to resign, will vote on it.

EUR / USD recovered the the previous declines and is now again looking to rise.

Chart: Used with permission of Bloomberg Finance L.P.

 Trader Aleksandar Kumanov

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