Current president wins by a landslide – gaining 43% of popular votes
Alongside France, bailed out Greece. In return, enormous austerity was put in place, such as firing public servants,
raise taxes, raise retirement age, etc.
This has caused enormous riots in Greece. For this reason, the Greek politicians must walk a fine line.
At the same time, Germans are becoming tired of giving cash to other countries that have not done their job. On
the other hand, they will also be hurt, as loaners of the money in the first place. President must walk a fine line
between not giving support (destruction of the EU) and otherwise (losing job)
This election is therefore seen as a sense of stability and security in Germany. However, the party that the
president has been forming coalition with has been destroyed, and for the president’s party to be able to pass
anything, they need a coalition with a leftist party.
Expect news on how far the president will have to compromise to have a coalition.
This is important because, if Greece fails, the EU fails, and the North America’s economy will be affected too.
Ex. When you sign a phone contract with Rogers,
o No understanding & no lawyer
o No bargaining power
o However, this contract is still legally enforceable. The law expects you to take care of yourself.
Underlying laws of contracts
o People will not contract without benefit.
o Contracts voluntarily entered into are fair. If the contract is only legally enforceable when it is ‘fair’,
there is no foreseeability, and every contract must be provided upon the judge.
Ex. I’ve been looking for a certain car for 10 years. I find someone, and offer 35,000 for it, the
seller accepts. The seller has been previously told that it was only worth 30,000 and I was
willing to pay 40,000 for it, so we are both happy. However, in terms of fairness, it is not!
o However, the government must intervene at times (using precious taxpayers’ money). This is necessary
because otherwise, private law would be unenforceable and have no weight.