Utilize the input text as a context reference, choose the right relationship between Merkel and Germany from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Germany is Europe's most powerful economy and its public finances are in good order, so Chancellor Angela Merkel champions the same tough austerity and fiscal prudence practiced at home as the only basis for long-term growth.

Answer: headquarters_location