After the German election on September 26, 2021, after the estimates were broadcast in Berlin, Olaf Scholz waved on the stage at the headquarters of the Social Democratic Party (SPD).
Odd Andersen | AFP | Getty Images
After nearly two months of negotiations after the German federal election in September, Germany announced an alliance agreement.
The center-left Social Democratic candidate Olaf Scholz (Olaf Scholz) will become Germany’s next chancellor, succeeding Angela Merkel, who has led Germany for 16 years.
According to the deal announced Wednesday afternoon, the pro-business Liberal Democratic Party leader Christian Lindner will become the next Treasury Secretary.
The agreement is the result of several weeks of joint negotiations between the Social Democratic Party, the Green Party and the Liberal Democratic Party. They will govern together for the first time in the form of a tripartite alliance.
The co-leaders of the Green Party, Annalena Baerbock and Robert Habeck, are preparing to serve as Ministers of Foreign Affairs and Ministers of Economy and Climate, respectively.
The alliance is described as a “traffic light” alliance that refers to the traditional colors of all parties.
The two parties vowed to modernize Germany, Europe’s largest economy, and prioritize its transformation into a greener and more digital economy and infrastructure investment.
German companies are eager to understand the practical significance of this transformation for them in terms of energy prices and business costs.
The outgoing leader Angela Merkel’s conservative alliances, the Christian Democratic Alliance and the Christian Social Alliance, will now face opposition.
—This is a breaking news story, please check for further updates.
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