A new coalition in Germany has ripped the upper house majority away from Angela Merkel. To keep a foot on the fiscal brakes, her CDU-FDP coalition will have to work with the other side.
Translated from Handelsblatt:
Hannelore Kraft of the SPD is the new Minister president of NRW. The power change in the region is now complete with the first woman ever to be Minister president of the region. And with that: CDU-FDP lose their majority in the Bundesrat.
More about the new coalition, translated from Frankfurter Allgemeine:
During the regional election for Minister president in Nord Rhine Westfalia, SPD and the Greens didn’t win in the first round, where an absolute majority is required. The second round is now starting, where a simple majority is needed. The problem in this region is that the red-green coalition doesn’t have the majority in the regional parliament, because SPD did not want a big coalition with the CDU. Earlier this year, for the regional parliamentary elections, the CDU had faced their worst result in the region. Critique for the SPD-Green coalition in NRW: instability due to lack of majority.
As Merkel loses power to pro-Europe, pro-inflation parties, watch the euro sink.
Don’t miss: A Guide To Why The Eurozone Has Fallen Apart
Business Insider Emails & Alerts
Site highlights each day to your inbox.