Germany to Announce Agreement Today for Forming 'Traffic Light' Coalition

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] The center-left Social Democratic Party (SPD), the Green Party, and the Free Democratic Party (FDP), which won the German federal election, are expected to announce a coalition agreement for forming a new government on the 24th (local time).

According to major foreign media on the day, in the German federal election held on September 26, the SPD narrowly defeated the center-right coalition of the Christian Democratic Union (CDU) and Christian Social Union (CSU), to which Chancellor Angela Merkel belongs, after a very close race.

Accordingly, the SPD has been negotiating with the Green Party, which has made climate change response its banner, and the pro-business Free Democratic Party (FDP) to form a so-called "traffic light" coalition government (SPD - red, FDP - yellow, Green Party - green).

According to the plan of these three parties, the coalition agreement is expected to be finalized this month, and on December 6, Olaf Scholz, the SPD's candidate for chancellor, will be inaugurated as chancellor.

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