The Vladmir Putin and Angela Merkel summit.
Frankfurter Allgemeine Zeitung has (others have it similar):
Continued from part one... Q1 hedge fund letters, conference, scoops etc Abrams and his team want to understand the fundamental economics of every opportunity because, "It is easy to tell what has been, and it is easy to tell what is today, but the biggest deal for the investor is to . . . SORRY! Read More
The headline is that Merkel told Putin to relax with respect to ”Pussy Riot” and other utterences of disagreement.
„Nicht gleich eingeschnappt sein“ or roughly: ”Don’t be a wimp”
She is probably one of the few people that can tell Putin to his face (and the press) that he is a jerk – and does it! Merkel is not so stupid that she doesn’t know Putin has studied her copious KGB-file in detail – and she his ditto. In the wonderful down to earth and business way she has. One thing is that Germany indubitably has clout, but Angela Merkel uses that with skill to cater for the prima donnas of world politics. F.i. Sarkozy is way below average height and very conscious about it and Angela Merkel always made a point of wearing low heeled shoes – not to ridicule him.
She is on the other hand what she pretends: A stressed German housewife with a razor sharp mind and little time for small talk.
(Just a guess: “Pussy Riot” won’t serve the sentence! Wait and see!)
The other point was that talks supposed proceed under a cloud. Merkel:
”Not true” , the chancellor said, ”both countries are tightly wowen together. Germany needs Russian oil and gas, Russia needs the German industry as a partner in modernisation.”
Later that afternoon an agreement was signed for delivery of 695 Siemens electrical locomotives (2½ bio. EUR).
That is about 3½ million each – sounds about right – a fair but not exorbitant price.
What does that make the oil/locomotive exchange ratio? Banks? Who needs them?
The trade between Germany and Russia was last year 55 bio. EUR – growing this year by 5%.
My interpretation: (Putin: “I AM NOT MIFFED!!!”)
It is not just Putin that get admonished by “Mom”. Barack Obama was told that she WOULD NOT let Greece collapse like Lehman Brothers. What Obama said is unknown – probably not very much.
She is good, she is very, very good.