A coalition deal has been announced in Germany after almost two months of talks following the country’s inconclusive federal election in September.
Olaf Scholz, the center-left Social Democratic Party’s candidate, will be Germany’s next chancellor, replacing Angela Merkel who has led Germany for 16 years.
The agreement between the SPD, the Greens and the Free Democratic Party, will see them govern together in a three-way coalition for the first time. The alliance has been described as a “traffic light” coalition in reference to the parties’ traditional colors.
Christian Lindner, the head of the pro-business FDP, is set to be the next finance minister, according to the deal which was announced Wednesday afternoon and will now be voted on by the different parties. The Green Party’s co-leaders, Annalena Baerbock and Robert Habeck, are poised to take on the roles of foreign minister and economy and climate minister, respectively.
Source: www.cnbc.com
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