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German finance minister fears ‘stalemate’ in US election

Schäuble’s comments come after repeated warnings by Republican contender Donald Trump that a victory by Democrat Hillary Clinton would be rigged, illegitimate and only due to the backing of a liberal media establishment.

“(We) hope that it will be an election result which is accepted by everyone and that we do not possibly get a delayed stalemate,” Schäuble said as he arrived for talks with this eurozone counterparts in Brussels.

“(Let us) believe in the rationality of democracy,” Schäuble added when asked if he was expecting turmoil in the markets after Tuesday’s election.

The final result of the US election in 2000 was delayed for more than a month, spooking financial markets, as candidates George W. Bush and Al Gore battled it out in court after a tight result in Florida.

About the markets, Schäuble added: “I suppose that the financial markets have already priced in every conceivable election result in the United States.”

“But let’s wait and see what the Americans are going to vote for,” he added.

German president Joachim Gauck also recently expressed his concerns about the US election. He said in an interview published on Sunday that he was “worried” about Washington, explaining that: “We can’t say what could be expected from a President Donald Trump. To me, and to many people in the United States and here at home, this constitutes a problem.” 

A recent poll found that 65 percent of German respondents said they would be “afraid” if Trump is elected.

As Schäuble spoke on Monday, US stocks snapped a nine-day losing streak, joining a global rally after the FBI lifted the threat that Clinton could face criminal charges over her emails.

Stocks tumbled for days as the unpredictable Trump gained ground on Clinton, the preferred choice of markets.

Article source: http://www.thelocal.de/20161107/german-finance-minister-fears-stalemate-in-us-election