German Election: Narrow Victory for Social Democrats Leaves Country in Limbo
Published Date: 9/27/2021
Source: Bloomberg Quicktake: Now
Olaf Scholz of the center-left Social Democrats defeated Chancellor Angela Merkel’s conservatives in an extremely tight German election, setting in motion what could be months of complex coalition talks to decide who will lead Europe’s biggest economy. Scholz’s SPD, the front-runner over the final weeks of the campaign, took 25.7% of the vote Sunday, while the Christian Democratic-led bloc under Armin Laschet 24.1%, according to provisional results. Both men said they aim to head the country’s next government and all the parties -- including likely coalition kingmakers the Greens and the pro-business Free Democrats -- will hold separate meetings Monday in Berlin to discuss the next steps. To sustained cheers and applause from supporters at party headquarters Monday, Scholz said that voters had sent a clear signal that they want him as chancellor, and that Laschet and his CDU/CSU bloc should go into opposition. “We will take on the task that the citizens have given us,” Scholz said. There is sufficient overlap between the SPD, Greens and FDP programs to be able to form a government, he added. A defiant Laschet had insisted to demoralized party colleagues Sunday night that he too will try to form a coalition, even though the conservatives slumped to their worst result ever, plunging below 30% for the first time. After 16 years under Merkel’s pragmatic centrist leadership, the outcome of the vote will have wide-ranging implications for Europe and the West. Merkel will remain in office until a new government is in place, and if she stays through mid-December she will overtake Helmut Kohl as Germany’s long-serving postwar leader. The fragmented political landscape means three parties will likely be needed to secure a majority in the German parliament for the first time in decades. A repeat of a “grand coalition” of the SPD and the CDU/CSU is still mathematically possible though both sides have effectively ruled it out. More: trib.al/uvN1diD Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake