It was only coined a couple of months ago, but already it gets over a million hits on Google (here it is in one headline), and a Wikipedia page has just been created. It's Merkozy, the nickname for Angela Merkel and Nicolas Sarkozy, acting in unison to protect the euro.
Another 'power couple' with a portmanteau nickname is Brangelina, aka Brad Pitt and Angelina Jolie. Bennifer was once used to refer to the romance between Ben Affleck and Jennifer Lopez, and TomKat to refer to Tom Cruise and Katie Holmes. The Guardian has thought up a few more political portmanteau nicknames, including Cleggeron for Nick Clegg and David Cameron. Personally, I like 'Blush' for Tony Blair and George Bush.
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