Olli Rehn, the European commissioner for economic and monetary affairs and the euro, told attendees at the Thomson Reuters Newsmaker event in New York that the decisive re-election of German Chancellor Angela Merkel’s conservative bloc on Sunday will help Europe’s economic recovery. “It is now essential that we maintain the momentum on building a banking union, Rehn said. Merkel’s conservative bloc won 42 percent of the vote in Germany’s general election but fell just short of the votes needed to rule without cobbling together a coalition involving other political parties, including leftists.
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