German Chancellor Angela Merkel’s party lost control of Lower Saxony state as the Social Democrats and Greens took a single seat majority, buoying the opposition parties eight months before federal elections.
Volkswagen AG , Europe’s largest carmaker, has the full backing of Lower Saxony to pursue an expansion strategy, including its merger with Porsche AG , according to the new head of the German state with veto power.
Support for a possible alliance of Germany’s Social Democrats and Greens is shrinking in the state of Lower Saxony less than three weeks before an election, an Infratest Dimap monthly poll for NDR television showed.
The German state of Lower Saxony won’t sell its stake in Volkswagen as it tries to reduce the amount of new debt to zero by 2017, the state’s Finance Minister Hartmut Moellring told Frankfurter Allgemeine Zeitung in an interview.
German authorities bought a CD containing data on some 20,000 Swiss bank accounts from an unidentified seller, raising the stakes in their pursuit of tax evaders that has ruffled relations with neighboring Switzerland.