One commentary on CNN tonight from a German source seemed to the point. He said it was not finance but industrial capital that pushed Lafontaine out - that a group of leading industrialists had written a collective letter a few days earlier effectively targetting what he stands for. And he went.
That the new finance minister comes from Hesse also seems to be a signal of Schroeders determination to pay attention to electability in view of the recent SPD losses there. And for that, it is necessary to be cautious about what parts of capital can be taken on at any one time.
Chris Burford
London