Germany Recent Events and Happenings
In the year 2005, Angela Merkel became the first female chancellor of Germany by leading the ?grand coalition? of the CDU and SPD to victory.
In 2006, the Parliament in Germany took up reforms for speeding up the governmental decision-making.
In the year 2008, Due to an economic recession the German government consented to pay $68 billion to Hypo Real Estate, one of the country?s largest banks to save it from disintegration. Also the European government assured an amount of 1.8 trillion euros to Germany in order to cope with the financial crisis. In the same year, Germany was officially stated to be in recession after facing a consecutive two-year downturn in the financial sector.
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