Germany's Angela Merkel to step down as her party's chair in Dec: Source

Merkel's favoured successor is CDU party secretary-general Annegret Kramp-Karrenbauer

German Chancellor Angela Merkel has told leaders of her Christian Democrats (CDU) that she will not seek re-election as party chairwoman at a conference in early December, a senior party source said on Monday.  

Merkel, 64, has been CDU chairwoman since 2000 and giving up the role would start a race within the party to succeed her as chancellor. The euro fell to session lows on the news. 

German news agency DPA, citing sources, tweeted that Merkel wanted to remain chancellor.

Monday's developments come after the CDU came home first but bled support in a vote in the western state of Hesse