You are here: Home » International » News » Politics
Business Standard

Olaf Scholz set to succeed Angela Merkel as German chancellor

Scholz's center-left Social Democrats said they will present their agreement with the Greens and the pro-business Free Democrats on Wednesday

Germany | Angela Merkel | German economy

Patrick Donahue Birgit Jennen & Arne Delfs | Bloomberg 

Olaf Scholz
Olaf Scholz

Olaf Scholz is set to succeed as German chancellor after forging an unprecedented alliance that aims to revamp Europe’s largest economy by tackling climate change and promoting digital technologies.

After nearly two months of intense negotiations, Scholz’s center-left Social Democrats said they will present their agreement with the Greens and the pro-business Free Democrats on Wednesday. Details of the coalition deal will be published later, when Scholz and leaders from the other two parties will hold a news conference at 3 p.m. in the German capital. The deal seals the end of Merkel’s 16-year tenure. During her four terms as chancellor, she became one of the West’s most respected leaders but left the country’s industry exposed to threats from China and changing technologies.

The new government will put climate protection front and center, pushing for investment in new technologies and upgrading Germany’s aging infrastructure. The government plans to exit coal by 2030—eight years earlier than planned — and accelerate the transition to electric vehicles. It’s also likely to become more assertive on the stage.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 25 2021. 00:41 IST