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Explainer-What has to happen before Germany’s new chancellor takes power? -Breaking


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© Reuters. FILE PHOTO – Olaf Scholz, the top Social Democratic Party candidate for Chancellor, makes a statement following a last round of coalition talks in Berlin to form a new Government, on November 24, 2021. REUTERS/Fabrizio Bensch/File Photo

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BERLIN (Reuters] – Germany’s three main parties have reached a deal to create a coalition government in which Social Democrat Olaf Scholz will replace Angela Merkel, the conservative Angela Merkel.

But it may take some time before the power is handed over. Here’s a quick overview of the next steps:

What has been agreed to and by whom?

Social Democrats, ecologist Greens, and pro-business Free Democrats (FDP), presented a plan to help Europe’s largest economy make a transition that is greener. They also proposed a way for it to speed up digitalization and implement liberal social policies.

After the agreements were reached by the working groups over the past few weeks, the leaders presented the document of 177 pages to the group on Wednesday.

WHEN WILL THE DEAL BE FINALISED

Each of the three sides must ratify this agreement. It is not a formality as members or delegates are unlikely to reject the deal.

SPD delegate will vote for it during an extraordinary party conference Dec. 4.

FDP intends to vote for it Dec. 5.

Greens have been in touch with their 125,000 members to discuss the agreement. It will be voted on digitally or by postal ballot. This process takes 10 days.

WHAT ABOUT CABINET POSTS?

These posts have so far been the most clear.

Chancellor of SPD’S Scholz is

Robert Habeck, Greens leader will serve as vice-chancellor. He will lead an enhanced economy ministry responsible for climate policy.

FDP leader Christian Lindner will serve as finance minister

The remaining ministers remain to be identified, but the agreement states that the SPD will hold seven more cabinet positions, four more from the Greens and three additional from the FDP.

WHEN WILL GERMANY GET ITS NEW CHANCELLOR?

Scholz will be elected chancellor of the Bundestag in the week ending Dec. 6, approximately 10 weeks following the federal election.

Merkel’s time in office would fall just short the 5,870-day record held by Helmut Kohl.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.