Friedrich Merz successfully secured his position as Germany’s next chancellor following a second-round vote in parliament on Tuesday. His victory came after a surprising defeat in the first round, marking the first time in post-WWII history that a chancellor candidate failed to win on the first ballot. The first-round defeat caused a significant dip in the stock market, with the DAX index falling by 1.8%.
Merz, 69, leads the Christian Democratic Union (CDU), which formed a coalition with the Bavarian Christian Social Union (CSU) and the centre-left Social Democrats (SPD). Despite initial doubts, Merz garnered 325 votes in the second ballot, with 310 votes in the first round. His new government faces a series of critical summits, including EU, NATO, and G7 meetings next month.
Merz’s agenda includes ramping up Germany’s defence spending, promoting economic growth, and addressing migration issues. He also emphasized Europe’s need for a strong Germany, highlighting the ongoing war in Ukraine and the complex relationship with the U.S.
Meanwhile, the far-right AfD, now the largest opposition party, criticized Merz’s coalition as fragile, reflecting tensions within Germany’s political landscape. The country is also grappling with the rise of far-right extremism, with the AfD recently classified as a “right-wing extremist” organization.
Source: Swifteradio.com
