DAVOS, Switzerland - In astonishingly short time, German Chancellor Angela Merkel has emerged as the most dynamic leader in Europe. That at least seemed to be the verdict of the applause meter at the World Economic Forum in Davos on Jan. 25. "You have given us hope for the first time in a long time," Peter Brabeck-Letmathe, chairman and chief executive of Swiss food giant Nestle, told Merkel after she delivered the keynote address to a packed auditorium. Merkel called for a massive reduction in bureaucracy in both Europe and Germany, and an increase in the retirement age, among other measures. "We have to be more flexible. We're holding back enormous potential," she said.