Two clear victors emerged from the German elections. Angela Merkel, the Christian Democrat chancellor, won the majority she sought for a centre-right coalition in spite of a voter backlash against big parties. And the liberal, pro-business Free Democrats, led by Guido Westerwelle, enjoyed their best result ever. They return to office after 11 years in opposition.

Now is the moment for both of them to be bold in forging a coalition platform that will put Germany firmly back on a sustainable growth path out of the present economic crisis. Although their room for manoeuvre is limited, with a rising budget deficit and still only tentative growth prospects, they have the opportunity to commit themselves to reforms that are essential in the long term.