German Social Democrat Olaf Scholz Agrees to Governing Coalition

Chosun Ilbo | Nov 25, 2021 at 9:09 AM
  • German Social Democrat leader Olaf Scholz is poised to become the country’s new chancellor, announcing Wednesday he has reached an agreement with the environmentalist Greens party and the pro-business Free Democrats to form a coalition government that will end the 16-year administration of Chancellor Angela Merkel.
  • Scholz, the center-left leader among Germany’s major political figures, crafted a 177-page pact with the other parties to advance public investment in green technology and the country’s economy before returning to strict debt limits starting in 2023.
  • The three parties have been negotiating an agreement since the Social Democrats narrowly won the country’s national election on Sept. 26.