BusinessPostCorner.com
No Result
View All Result
Saturday, June 14, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Friedrich Merz fails in initial vote to become Germany’s chancellor

May 6, 2025
in Finance
Reading Time: 3 mins read
A A
0
Friedrich Merz fails in initial vote to become Germany’s chancellor
ShareShareShareShareShare

Stay informed with free updates

Simply sign up to the German politics myFT Digest — delivered directly to your inbox.

Friedrich Merz has failed to win a vote in the Bundestag to become Germany’s chancellor, in a shock setback that torpedoes his plans for his first week in office.

The 69-year-old Christian Democrat, who won elections in February and has teamed up with the Social Democrats to form a majority government, had been due to be sworn into office on Tuesday after what was expected to be a formality.

Merz needed 316 votes in the 630-member parliament. But he only secured 310, even though the coalition partners have 328 seats between them.

“This is a shock,” said Henning Meyer, professor at Tübingen university. “It’s never happened before at the federal level. Clearly, there are disgruntled people.”

In Tuesday’s vote, 307 Bundestag members opposed Merz, indicating that five members of his prospective coalition had switched sides, since the opposition has 302 votes. Three members abstained, while nine were absent and one vote was invalid.

It was not immediately clear when the next round of voting, in which Merz still requires an absolute majority of 316, would take place.

He could still be elected chancellor in subsequent rounds if he wins more “Yes” than “No” votes, but at a cost to his authority.

If a candidate fails to win sufficient backing from parliament, Germany’s Social Democratic President Frank-Walter Steinmeier can appoint another chancellor candidate or call new elections. Until then Olaf Scholz remains acting chancellor.

Uwe Jun, a political scientist at Trier University, described Tuesday’s vote as “a huge surprise”, adding that “clearly Merz has opponents in the coalition”.

His unprecedented failure to be elected by the Bundestag strikes a severe blow to the CDU leader, who had planned to immediately set to work tackling the deep problems in Europe’s largest economy, which has suffered years of stagnation.

Merz had been due to travel to Paris on Wednesday to meet President Emmanuel Macron in what was intended to be a demonstration of his commitment to the Franco-German partnership.

“The whole of Europe looked to Berlin today in the hope that Germany would reassert itself as an anchor of stability and a pro-European powerhouse,” said Jana Puglierin, a senior policy fellow at the European Council on Foreign Relations. “That hope has been dashed. With consequences way beyond our borders.”

European stocks weakened after the news, hitting session lows, with Germany’s Dax index down 1.7 per cent, and the broader Stoxx 600 index down 0.8 per cent.

Holger Schmieding, chief economist at Berenberg bank, said Tuesday’s upset was “a significant negative” for the German economy.

While he said Merz was still likely to get elected, he added: “This shows that the coalition is not united, which could weaken his ability to pursue policies.”

Merz has angered some within the more conservative wing of his CDU/CSU grouping by loosening the constitutional borrowing limit and embarking on a €1tn debt-fuelled spending programme to modernise the country’s military and its ageing infrastructure.

Lars Klingbeil, the Social Democrat co-leader who had been due to take office as vice-chancellor and finance minister, has also faced internal criticism after his party suffered its worst electoral defeat with just 16 per cent of the votes in February.

Additional reporting by Ian Smith in London

Credit: Source link

ShareTweetSendPinShare
Previous Post

Alleged $190M Nomad Hacker Faces US Extradition After Arrest

Next Post

How to leverage the 5 stages of the customer buying cycle for more sales

Next Post
How to leverage the 5 stages of the customer buying cycle for more sales

How to leverage the 5 stages of the customer buying cycle for more sales

ABC suspends journalist for calling Trump and adviser ‘world-class haters’

ABC suspends journalist for calling Trump and adviser ‘world-class haters’

June 8, 2025
Trump claims rare earths deal ‘done’ with China

Trump claims rare earths deal ‘done’ with China

June 11, 2025
Russian Crypto CEO Charged in 0M Laundering Fraud – Here’s What Happened

Russian Crypto CEO Charged in $530M Laundering Fraud – Here’s What Happened

June 10, 2025
Meta in talks for Scale AI investment that could top  billion

Meta in talks for Scale AI investment that could top $10 billion

June 8, 2025
Elliott Davis takes private equity investment

Elliott Davis takes private equity investment

June 11, 2025
Bookkeeping totally automated, tax compliance not far behind

Bookkeeping totally automated, tax compliance not far behind

June 11, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Venice is set to host Jeff Bezos and Lauren Sanchez’s fairytale wedding—but residents aren’t feeling the love

Venice is set to host Jeff Bezos and Lauren Sanchez’s fairytale wedding—but residents aren’t feeling the love

June 14, 2025
Did the US know about Israel’s attack all along?

Did the US know about Israel’s attack all along?

June 14, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!