For one, she refused to bail out Arcandor, the huge, now-bankrupt German retail chain.

FORBES: Protectionism Prevails Worldwide

Now Arcandor has asked for bankruptcy protection and is trying to liquidate holdings.

FORBES: Poor Little Rich Girl

While Merkel elsewhere distances herself from the idea of state aid for big, flailing businesses, her election rival, Frank-Walter Steinmeier, lauds the Magna-Opel deal on and supports aid for Arcandor too.

FORBES: Protectionism Prevails Worldwide