Germany's Schaeuble to head parliament

World
Europe

Germany's veteran finance minister, conservative Wolfgang Schaeuble, agreed to become president of the parliament on Wednesday, clearing the way for another party to take his job.

Chancellor Angela Merkel will hope that Schaeuble, deeply respected in Germany for helping to steer the eurozone through its debt crisis, can stamp his authority on a fractious Bundestag lower house that will include two more parties after Sunday’s federal election.

Merkel must assemble Germany’s first three-way coalition since the 1950s after her conservatives lost support and a far-right party, the anti-immigrant Alternative for Germany (AfD), entered parliament for the first time in half a century.

Schaeuble's willingness to quit as finance minister after eight years in the post makes it easier for the pro-business Free Democrats (FDP) to join a Merkel-led coalition. The FDP, who are as fiscally hawkish as Schaeuble, have said they want his old job.

The change will bring unprecedented weight to the role of Bundestag president, generally a low-profile position.

Germany's former financial minister arrives at a weekly cabinet meeting at the Chancellery in Berlin. /Reuters photo

Lindner’s deputy, Wolfgang Kubicki, another possible candidate for the post, told the RND newspaper chain that Schaeuble’s move showed Merkel’s openness to a "Jamaica" option, a reference to colors of the parties in the potential coalition government, black, yellow and green. He also underscored his party’s call for a shift in fiscal policy.

"As an outstanding personality Wolfgang Schaeuble possesses a natural authority that is of particular importance in these times," said FDP leader Christian Lindner, himself seen as a likely successor at the finance ministry.

As Bundestag president, Schaeuble will not be involved in coalition negotiations, removing one strong-minded negotiator from the table and potentially giving Merkel a freer hand.

Coalition negotiations will only begin in earnest after Oct. 15, when the conservatives hope to wrest power from the Social Democrats in a state election in Lower Saxony.

By law, the new parliament must convene for its first session 30 days after the election, so by Oct. 24 at the latest.

7369km

Schaeuble

Source(s): Reuters