As the statement by Steinmeier suggests at the end of the BBC excerpt, there are still quite a few Germans who vehemently oppose Merkel’s reelection.  That suggests that Merkel is almost certainly going to deal with some real obstacles to her tax-cutting, union-reforming agenda she has prepared.  At the very least, her desired changes will at least take some time to truly push forward.
There is an interesting video on all of this—Merkel, her reelection, concerns/positive feedback, etc.—at newsy.com.  It’s worth checking out if you have a few minutes:

http://www.newsy.com/videos/polanski_s_31_year_old_problem

Merkel has reluctantly agree to expanding insurance of bank deposits, she did sign a stimulus plan, but as criticized the US for the overly large one that we have enacted and criticized Obama for planning further stimulus plans.

She has stated her plan for further Free-Market reforms in Germany. Historically, she has supported reducing the VAT and substituting a flat tax. While German coalition politics have forced her to compromise some of those views her core positions are for fiscal restraint. She has been closer to Bush than Obama in her Middle East policy.

This was not a win for Obama, and unlike CNN’s reporting it does not show a weakening f her position, but rather she is stronger because she is able to take on a more conservative coalition partner than she had previously.