Home building market is poised to grow further in 2009 after its combined market value exceeded its target of 11 billion Baht. With improving economy, a research finding that 50% of the targets plan to build new homes in 2010 as well as the fact that home building prices are revised up from 1-2 million Baht to 2-3 million Baht range, the market value in 2010 is now projected at 12 billion Baht.
Mr. Panthep Tharnchitikul, President of the Home Building Association, reveals today that the home building market value in 2009 is expected to grow 12% YoY from 9.8 billion Baht in 2008 to 11 billion Baht in 2009, which is 5% higher than its target of 10.5 billion Baht. Looking backward, the 1H09 market was adversely hit by local economic downturn and political stalemate, which resulted in lower sales figure for many companies, while the market well recovered in the 2H09, especially, when the Home Building Association staged the Home Builder 2009 to help stimulate sales. With total registered on-site sales of 2.4 billion Baht, the figure was a record-high in its history and significantly helped contribute to the higher-than-expected growth of the home building market in 2009.
In 2010, it is expected that the home building market would grow 9-10% YoY to 12 billion Baht mainly due to several improving economic figures. While the mode prices found at the Home Builder 2009 were up from 1-2 million Baht in 2007-2008 to 2-3 million Baht range in 2009, the average on-site price at the Home Builder 2009 was up from 4.3 and 4.2 million Baht in 2007 and 2008 respectively to 4.7 million Baht in 2009.
“Home building market outlook has significantly improved since mid of last year partially due to improving economy, which resulted in rising consumer confidence. At the same time, many home building companies have also launched more marketing activities in the 2H09. This coupled with the staging of the Association’s Home Builder 2009 significantly help reverse the decreasing purchasing power in the 1H09 back on track. Furthermore, according to a research conducted at the Home Builder 2009, it is found that about 50% of the targets have plans to build new home in 2010, which makes us believe that the home building market in 2010 would continue to grow as we expected.” Mr. Panthep said.
Mr. Panthep further added that though the Association’s guidelines and policy in 2010 would have to wait for the appointment of a new President and an executive committee, which were expected in January 2010 after the election on November 27, 2009, he believed that the Association would maintain its main policy and commitment to upgrading the standard of the Home Building business so that it is widely accepted by the consumer as well as the general public as a whole.
Saturday, November 21, 2009
Wednesday, November 11, 2009
Major powers fret over future as Irish vote on Lisbon treaty
Europes big powers are banking on Irish voters backing reforms to make the European Union a stronger player on the world stage and avert a crisis they fear could paralyse the 27-nation bloc.
Irish approval for the EUs Lisbon treaty in a referendum on Friday would clear an obstacle to streamlining decision-making and put pressure on the Polish and Czech presidents to follow other EU leaders by signing it into law.Rejection could delay moves towards closer EU integration and enlargement,and undermine public and investor confidence, at least briefly hitting the euro currency.Theres a sense its going to be a Yes vote, said Hugo Brady, of the Centre for European Reform think tank.
A Yes vote would allow the EU to improve the way it makes decisions,particularly in foreign policy, he added in a research note.A No vote would lead to recrimination, policy paralysis and probably a freeze on further EU enlargement.
If the treaty is rejected, he said, leaders would be divided and distracted from urgent tasks such as responding effectively to the global economic crisis and making a success of talks on a new global deal to combat climate change.
Plans to develop the EU could be frozen and the bloc could struggle to project itself as a global economic power.Investors could sell off the euro because of uncertainty about Europes future.
Opinion polls suggest Irish voters will back the Lisbon treaty, partly because many say being in the EU has helped Ireland through the global economic crisis.
But leaders of EU states that have already backed the treaty are taking nothing for granted because Ireland has already rejected it once, in June 2008,and are avoiding saying anything that might be seen as interference and cause a voter backlash.Its not all over yet,said Roland Freudenstein, a political analyst at the Centre for European Studies.
The Lisbon treaty was drawn up after Dutch and French voters rejected a draft EU constitution in 2005. It would supercede the Nice treaty, agreed in 2000 to help cope with enlargement.
If ratified by all EU states, the Lisbon treaty would amend voting rules to ease decision-making, which has become unwieldy following the accession of 12 countries since 2004.
It would also create two new posts a president of the European Council of EU states leaders and a high represen-tative for foreign affairs.
Even Irish support would not clear all obstacles to the treaty going into force because Polish President Lech Kaczynski and Czech President Vaclav Klaus have so far refused to sign it.
A Yes would in effect clear two obstacles, Ireland and Poland, because Kaczynski says he will sign the treaty if Ireland backs it. Whether Klaus would then back it is less clear, Mr Freudenstein said.If theres a No vote, all dynamism would be lost. Wed talk ourselves into some kind of paralysis.
Mr Klaus could try to hold out until Britain holds a parliamentary election next year which is expected to be won by the Conservative Party, his allies.
The EU could find other ways to push through reforms, just as it did after the draft constitution was rejected in 2005.
But the changes could be delayed for years at a time when unity is being sought to maintain Europes influence in the new world order that is taking shape following the economic crisis.
Europe is facing stark choices in todays interdependent world. Either we work together to rise to the challenges.Or we condemn ourselves to irrelevance,said Jose Manuel Barroso, the president of the European Commission.
Irish approval for the EUs Lisbon treaty in a referendum on Friday would clear an obstacle to streamlining decision-making and put pressure on the Polish and Czech presidents to follow other EU leaders by signing it into law.Rejection could delay moves towards closer EU integration and enlargement,and undermine public and investor confidence, at least briefly hitting the euro currency.Theres a sense its going to be a Yes vote, said Hugo Brady, of the Centre for European Reform think tank.
A Yes vote would allow the EU to improve the way it makes decisions,particularly in foreign policy, he added in a research note.A No vote would lead to recrimination, policy paralysis and probably a freeze on further EU enlargement.
If the treaty is rejected, he said, leaders would be divided and distracted from urgent tasks such as responding effectively to the global economic crisis and making a success of talks on a new global deal to combat climate change.
Plans to develop the EU could be frozen and the bloc could struggle to project itself as a global economic power.Investors could sell off the euro because of uncertainty about Europes future.
Opinion polls suggest Irish voters will back the Lisbon treaty, partly because many say being in the EU has helped Ireland through the global economic crisis.
But leaders of EU states that have already backed the treaty are taking nothing for granted because Ireland has already rejected it once, in June 2008,and are avoiding saying anything that might be seen as interference and cause a voter backlash.Its not all over yet,said Roland Freudenstein, a political analyst at the Centre for European Studies.
The Lisbon treaty was drawn up after Dutch and French voters rejected a draft EU constitution in 2005. It would supercede the Nice treaty, agreed in 2000 to help cope with enlargement.
If ratified by all EU states, the Lisbon treaty would amend voting rules to ease decision-making, which has become unwieldy following the accession of 12 countries since 2004.
It would also create two new posts a president of the European Council of EU states leaders and a high represen-tative for foreign affairs.
Even Irish support would not clear all obstacles to the treaty going into force because Polish President Lech Kaczynski and Czech President Vaclav Klaus have so far refused to sign it.
A Yes would in effect clear two obstacles, Ireland and Poland, because Kaczynski says he will sign the treaty if Ireland backs it. Whether Klaus would then back it is less clear, Mr Freudenstein said.If theres a No vote, all dynamism would be lost. Wed talk ourselves into some kind of paralysis.
Mr Klaus could try to hold out until Britain holds a parliamentary election next year which is expected to be won by the Conservative Party, his allies.
The EU could find other ways to push through reforms, just as it did after the draft constitution was rejected in 2005.
But the changes could be delayed for years at a time when unity is being sought to maintain Europes influence in the new world order that is taking shape following the economic crisis.
Europe is facing stark choices in todays interdependent world. Either we work together to rise to the challenges.Or we condemn ourselves to irrelevance,said Jose Manuel Barroso, the president of the European Commission.
Wednesday, October 21, 2009
Probe voids thousands of Karzai votes
Fraud investigators threw out hundreds of thousands of votes for President Hamid Karzai in the country's disputed August election,according to a report released yesterday.
The findings set the stage for a run-off between him and his top challenger.
It was unclear, however, whether the Independent Election Commission (IEC) would accept the findings of the UN-backed fraud panel and announce a run-off. Mr Karzai's spokesman said it was too soon to make a judgment based on the figures released by the panel.
Two international officials familiar with the investigation said that the findings showed Mr Karzai falling below the 50% threshold needed to avoid a run-off with his chief rival,former foreign minister Abdullah Abdullah.
Preliminary results released last month showed Mr Karzai winning the Aug 20 election with more than 54%. However, allegations of widespread fraud prompted the investigation by the UN-backed Electoral Complaints Commission and held up a final proclamation of a winner.
Investigators did not release enough figures to allow for an independent judgment, but it was clear that hundreds of thousands of Karzai votes were voided.
In all, more than five million votes were cast in the election.
"I don't think we can make any judgment based on the figures announced today," Karzai campaign spokesman Waheed Omar said.
That has raised fears that the Karzai-influenced election commission may refuse to call for a run-off - further delaying formation of a government that the US believes is needed to help combat the growing Taliban insurgency.
A protracted crisis could also lead to political unrest.
Hundreds of Karzai supporters protested in the south over the weekend,calling for the electoral commission to release results quickly and saying they will reject a second round.
They gathered in the main street of the southeastern city of Spin Boldak on Sunday, shouting "We want the result!" and "Karzai is our leader!"
Ali Shah Khan, a tribal leader from the area, said the protesters believed the August vote was fair and that foreigners were delaying the results to unseat Mr Karzai.
"We know they don't want President Karzai because he is a strong leader and he is working only for the people of Afghanistan," Mr Khan said."The foreign countries want a weak leader for Afghanistan. After that they can do whatever they want."
The White House says President Barack Obama will not send more US troops until a credible government is in place.
French Foreign Minister Bernard Kouchner and US Senator John Kerry,chairman of the Senate Foreign Relations Committee, were in Kabul last weekend urging the Afghans to resolve the standoff quickly.
Abdullah campaign spokesman Fazel Sancharaki said the UN-backed panel "is under threat" from Mr Karzai. He alleged the president was urging the IEC not to accept the results of the fraud probe.
The findings set the stage for a run-off between him and his top challenger.
It was unclear, however, whether the Independent Election Commission (IEC) would accept the findings of the UN-backed fraud panel and announce a run-off. Mr Karzai's spokesman said it was too soon to make a judgment based on the figures released by the panel.
Two international officials familiar with the investigation said that the findings showed Mr Karzai falling below the 50% threshold needed to avoid a run-off with his chief rival,former foreign minister Abdullah Abdullah.
Preliminary results released last month showed Mr Karzai winning the Aug 20 election with more than 54%. However, allegations of widespread fraud prompted the investigation by the UN-backed Electoral Complaints Commission and held up a final proclamation of a winner.
Investigators did not release enough figures to allow for an independent judgment, but it was clear that hundreds of thousands of Karzai votes were voided.
In all, more than five million votes were cast in the election.
"I don't think we can make any judgment based on the figures announced today," Karzai campaign spokesman Waheed Omar said.
That has raised fears that the Karzai-influenced election commission may refuse to call for a run-off - further delaying formation of a government that the US believes is needed to help combat the growing Taliban insurgency.
A protracted crisis could also lead to political unrest.
Hundreds of Karzai supporters protested in the south over the weekend,calling for the electoral commission to release results quickly and saying they will reject a second round.
They gathered in the main street of the southeastern city of Spin Boldak on Sunday, shouting "We want the result!" and "Karzai is our leader!"
Ali Shah Khan, a tribal leader from the area, said the protesters believed the August vote was fair and that foreigners were delaying the results to unseat Mr Karzai.
"We know they don't want President Karzai because he is a strong leader and he is working only for the people of Afghanistan," Mr Khan said."The foreign countries want a weak leader for Afghanistan. After that they can do whatever they want."
The White House says President Barack Obama will not send more US troops until a credible government is in place.
French Foreign Minister Bernard Kouchner and US Senator John Kerry,chairman of the Senate Foreign Relations Committee, were in Kabul last weekend urging the Afghans to resolve the standoff quickly.
Abdullah campaign spokesman Fazel Sancharaki said the UN-backed panel "is under threat" from Mr Karzai. He alleged the president was urging the IEC not to accept the results of the fraud probe.
Saturday, October 17, 2009
AFGAHN AUTHORITIES DRAG THEIR FEET ON VOTE FRAUD
Two months after Afghans voted in controversial presidential elections, authorities were still wrangling yesterday over whether another poll is needed amid tense negotiations between rival candidates.
Officials in Kabul said Afghan politicians and their international backers have been involved in days of vigorous horse-trading in the hope of averting a run-off, which many fear could further destabilise the fragile country.
Afghanistan's August-20 election has been overshadowed by allegations of fraud, mostly against President Hamid Karzai, including findings by EU observers that one quarter of all votes, or 1.5 million, were suspicious.
Karzai leads preliminary results with around 55 per cent of the vote. He needs 50 per cent plus one vote to be declared the winner.
His main rival Abdullah Abdullah has around 28 per cent.
An official announcement - winner or run-off - will be made by the Independent Election Commission (IEC), widely regarded as pro-Karzai, which acts on the orders of the UN-approved Electoral Complaints Commission (ECC).
ECC officials had been expected to deliver their roders, based on the finding of investigations into ballot-stuffing, to the IEC yesterday. The IEC is constitutionally bound to obey the orders. But officials, including an IEC source, said only informal meetings had taken place in which ECC members explained how they reached their conclusions.
The officials said the ECC could make its decision public as early as yesterday, but the IEC is now expected to delay its announcement for some days.
"The issue is that the IEC will not accept that ECC decisions and they are heading for a head-on collision and political chaos," another diplomat said, adding: "This means further delays in the final sresult."
Officials in Kabul said Afghan politicians and their international backers have been involved in days of vigorous horse-trading in the hope of averting a run-off, which many fear could further destabilise the fragile country.
Afghanistan's August-20 election has been overshadowed by allegations of fraud, mostly against President Hamid Karzai, including findings by EU observers that one quarter of all votes, or 1.5 million, were suspicious.
Karzai leads preliminary results with around 55 per cent of the vote. He needs 50 per cent plus one vote to be declared the winner.
His main rival Abdullah Abdullah has around 28 per cent.
An official announcement - winner or run-off - will be made by the Independent Election Commission (IEC), widely regarded as pro-Karzai, which acts on the orders of the UN-approved Electoral Complaints Commission (ECC).
ECC officials had been expected to deliver their roders, based on the finding of investigations into ballot-stuffing, to the IEC yesterday. The IEC is constitutionally bound to obey the orders. But officials, including an IEC source, said only informal meetings had taken place in which ECC members explained how they reached their conclusions.
The officials said the ECC could make its decision public as early as yesterday, but the IEC is now expected to delay its announcement for some days.
"The issue is that the IEC will not accept that ECC decisions and they are heading for a head-on collision and political chaos," another diplomat said, adding: "This means further delays in the final sresult."
Tuesday, October 13, 2009
Ben Bongo's poll win confirmed
Gabon's Constitutional Court rejected on Monday challenges launched by the opposition to Ali Ben Bongo's victory in an August presidential election, paving the way for Mr Ben Bongo to replace his father as president.
"The election of Ali Ben Bongo Ondimba as president of the Republic of Gabon is confirmed," Court President Marie Madeleine Mborantsuo, said in a decision read out on state television on Monday evening.
According to the final tally, Mr Ben Bongo scored 41.8% of the vote.
"The election of Ali Ben Bongo Ondimba as president of the Republic of Gabon is confirmed," Court President Marie Madeleine Mborantsuo, said in a decision read out on state television on Monday evening.
According to the final tally, Mr Ben Bongo scored 41.8% of the vote.
Monday, October 12, 2009
Electorate votes in test for Medvedev's pledge to boost democracy
President Dmitry Medvedev faced a test of his pledge to boost Russian democracy yesterday when polls opened for 30 million voters in regional elections the opposition say have been rigged.
Mr Medvedev has promised to break the near-monopoly of ruling party United Russia over the political system. Critics say democracy was undermined by his predecessor Vladimir Putin, now prime minister, and the opposition says the situation has deteriorated since Mr Medvedev came to power in May 2008.
"Political competition is practically zero," said Liliya Shibanova, head of independent poll watchdog Golos."Medvedev says we need competition,we need a multi-party system, but election results show the exact opposite."
Mayoral, regional and district elections are being held in 76 of Russia's 83 regions, but the opposition has been scathing of elections to the Moscow council. Six parties were registered for yesterday's Moscow vote, but the only posters in the city are for United Russia.
"Everything is decided in advance,"said teacher Jay Komisarzhevskaya."I haven't voted for 10 years."
Mr Medvedev has promised to break the near-monopoly of ruling party United Russia over the political system. Critics say democracy was undermined by his predecessor Vladimir Putin, now prime minister, and the opposition says the situation has deteriorated since Mr Medvedev came to power in May 2008.
"Political competition is practically zero," said Liliya Shibanova, head of independent poll watchdog Golos."Medvedev says we need competition,we need a multi-party system, but election results show the exact opposite."
Mayoral, regional and district elections are being held in 76 of Russia's 83 regions, but the opposition has been scathing of elections to the Moscow council. Six parties were registered for yesterday's Moscow vote, but the only posters in the city are for United Russia.
"Everything is decided in advance,"said teacher Jay Komisarzhevskaya."I haven't voted for 10 years."
Tuesday, September 22, 2009
Unruffled Angela Merkel stays above election fray
Maybe this is why Chancellor Angela Merkel is so closed. In East Germany she learned for a long time never to show her own opinion.
German Chancellor Angela Merkel,of the Christian Democrats (CDU),at times seems impervious to the fact that an election campaign is going on around her.
Brushing aside criticism from political opponents and even demands within her own party to infuse energy into a lacklustre election campaign, Ms Merkel has retained her presidential calm at the helm of Europe's most populous country and largest economy.
"Volume and insulting other people should not be the measure by which the seriousness of the election campaign should be judged," Ms Merkel said, swatting away the criticisms.
The chancellor's popularity - which far outstrips that of her party - has remained undented by state elections this month in which the CDU suffered serious setbacks.
In a poll conducted by ARD television,57% said they would elect Ms Merkel directly if they could, while only 28%said they would pick SPD candidate Frank-Walter Steinmeier.
The CDU stands to gain 35-37% of the Sept 27 vote, compared to around 23% for the Social Democrats (SPD) according to recent polls.
Ms Merkel's CDU hopes the election will return a sufficient majority to ditch the so-called grand coalition with the SPD, in favour of a new pro-market partnership with the Free Democrats (FDP).
Unostentatious in her sensible trouser suits and no-nonsense fringe, the chancellor's popularity stems from her quiet determination to get on with the job.
"This humble appearance, and the fact that she doesn't stage things, that is her actual staging," said Gerd Langguth,a political scientist and biographer of Angela Merkel. At the same time, Mr Langguth says Ms Merkel's upbringing under a totalitarian East German regime may have taught her to mask her true thoughts."Maybe this is why Merkel is so closed," Mr Langguth said."In East Germany she learned for a long time never to show her own opinion."
Angela Merkel has tried to reveal her personal side, proclaiming a love of the Beatles and Rolling Stones, and telling a German women's magazine that she writes the shopping list for her mediashy husband, quantum chemist Joachim Sauer. The daughter of a protestant priest,Angela was born near Hamburg in 1954,and moved to East Germany with her family at a time when people were fleeing in the opposite direction.
A trained physicist, Ms Merkel did not enter politics until the age of 35,after the fall of the Berlin Wall. Within the CDU she quickly came to the attention of then-chancellor Helmut Kohl.
The remarried, childless protestant from former East Germany stood out in the CDU's conservative, Catholic image of a party dominated by men and firmly rooted in Germany's west.
Nevertheless,"Kohl's girl" first became minister for women and youth, then inherited the environment brief. In 2000 she was elected as the first female leader of the CDU. While Ms Merkel learned her political skills under Mr Kohl, she does not share his sense of historical imperative, Mr Langguth said.
"She is a non-ideological, pragmatic problem solver," Mr Langguth said, adding that pathos was not Ms Merkel's style.
What many see as Chancellor Merkel's pragmatism can also be considered opportunist. Voted in on a tax-cutting agen-da in 2005, Ms Merkel quickly adapted to the limitations of a grand coalition.Her ambitious health reform programme became a messy compromise. But the more concrete decisions of her government include a value-added tax increase,and raising the retirement age to 67.
Internationally, Ms Merkel has gained respect, first capitalising on the 2006 Football World Cup held in Germany,then showing leadership during the country's rotating presidency of the Group of Eight (G8).
More recently, the chancellor stood her ground during thefinancial crisis,rebuffing initial calls from the US and Japan for government bailouts to boost the German economy.
Now the apparent rescue of German carmaker Opel, and two successive quarters of economic growth, allow Ms Merkel to argue that her government has fended off the worst of the economic crisis.
The chancellor's demands for a tightening of international financial markets and her proposed "charter of sustainable growth" should further place her in a lead role at the G20 summit in Pittsburgh, the United States, just days before the German election.
Indeed, the economy forms the lynchpin of Ms Merkel's election pledges,arguing that the need to encourage growth in the wake of the economic crisis aligns the CDU with the FDP's liberal agenda.
"We have the strength," proclaim the CDU's election posters, above a flattering picture of Ms Merkel with a maternal smile.
But while the CDU is relying on the popularity of its leader to bring in the vote, Ms Merkel is also likely to carry the can if her hands-off approach to the election campaign fails to pay off.
In 2005, against the more energetic campaigner Gerhard Schroeder, Ms Merkel allowed a healthy poll lead to slip to almost a dead heat in the final days of the campaign.
German Chancellor Angela Merkel,of the Christian Democrats (CDU),at times seems impervious to the fact that an election campaign is going on around her.
Brushing aside criticism from political opponents and even demands within her own party to infuse energy into a lacklustre election campaign, Ms Merkel has retained her presidential calm at the helm of Europe's most populous country and largest economy.
"Volume and insulting other people should not be the measure by which the seriousness of the election campaign should be judged," Ms Merkel said, swatting away the criticisms.
The chancellor's popularity - which far outstrips that of her party - has remained undented by state elections this month in which the CDU suffered serious setbacks.
In a poll conducted by ARD television,57% said they would elect Ms Merkel directly if they could, while only 28%said they would pick SPD candidate Frank-Walter Steinmeier.
The CDU stands to gain 35-37% of the Sept 27 vote, compared to around 23% for the Social Democrats (SPD) according to recent polls.
Ms Merkel's CDU hopes the election will return a sufficient majority to ditch the so-called grand coalition with the SPD, in favour of a new pro-market partnership with the Free Democrats (FDP).
Unostentatious in her sensible trouser suits and no-nonsense fringe, the chancellor's popularity stems from her quiet determination to get on with the job.
"This humble appearance, and the fact that she doesn't stage things, that is her actual staging," said Gerd Langguth,a political scientist and biographer of Angela Merkel. At the same time, Mr Langguth says Ms Merkel's upbringing under a totalitarian East German regime may have taught her to mask her true thoughts."Maybe this is why Merkel is so closed," Mr Langguth said."In East Germany she learned for a long time never to show her own opinion."
Angela Merkel has tried to reveal her personal side, proclaiming a love of the Beatles and Rolling Stones, and telling a German women's magazine that she writes the shopping list for her mediashy husband, quantum chemist Joachim Sauer. The daughter of a protestant priest,Angela was born near Hamburg in 1954,and moved to East Germany with her family at a time when people were fleeing in the opposite direction.
A trained physicist, Ms Merkel did not enter politics until the age of 35,after the fall of the Berlin Wall. Within the CDU she quickly came to the attention of then-chancellor Helmut Kohl.
The remarried, childless protestant from former East Germany stood out in the CDU's conservative, Catholic image of a party dominated by men and firmly rooted in Germany's west.
Nevertheless,"Kohl's girl" first became minister for women and youth, then inherited the environment brief. In 2000 she was elected as the first female leader of the CDU. While Ms Merkel learned her political skills under Mr Kohl, she does not share his sense of historical imperative, Mr Langguth said.
"She is a non-ideological, pragmatic problem solver," Mr Langguth said, adding that pathos was not Ms Merkel's style.
What many see as Chancellor Merkel's pragmatism can also be considered opportunist. Voted in on a tax-cutting agen-da in 2005, Ms Merkel quickly adapted to the limitations of a grand coalition.Her ambitious health reform programme became a messy compromise. But the more concrete decisions of her government include a value-added tax increase,and raising the retirement age to 67.
Internationally, Ms Merkel has gained respect, first capitalising on the 2006 Football World Cup held in Germany,then showing leadership during the country's rotating presidency of the Group of Eight (G8).
More recently, the chancellor stood her ground during thefinancial crisis,rebuffing initial calls from the US and Japan for government bailouts to boost the German economy.
Now the apparent rescue of German carmaker Opel, and two successive quarters of economic growth, allow Ms Merkel to argue that her government has fended off the worst of the economic crisis.
The chancellor's demands for a tightening of international financial markets and her proposed "charter of sustainable growth" should further place her in a lead role at the G20 summit in Pittsburgh, the United States, just days before the German election.
Indeed, the economy forms the lynchpin of Ms Merkel's election pledges,arguing that the need to encourage growth in the wake of the economic crisis aligns the CDU with the FDP's liberal agenda.
"We have the strength," proclaim the CDU's election posters, above a flattering picture of Ms Merkel with a maternal smile.
But while the CDU is relying on the popularity of its leader to bring in the vote, Ms Merkel is also likely to carry the can if her hands-off approach to the election campaign fails to pay off.
In 2005, against the more energetic campaigner Gerhard Schroeder, Ms Merkel allowed a healthy poll lead to slip to almost a dead heat in the final days of the campaign.
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