Merkel reaches coalition deal

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BERLIN (Reuters) – German Chancellor Angela Merkel’s conservatives and the Social Democrats (SPD) yesterday agreed to a coalition deal. In a move likely to mean a shift in Germany’s eurozone policy, media reported the SPD would take the finance ministry. SPD leader Martin Schulz said earlier this week that his party had ensured an agreement with the conservatives would put an end to “forced austerity” and set up an investment budget for the eurozone. Handing over the crucial finance ministry suggests the conservatives had to make big concessions to get the SPD to agree to renew the ‘grand coalition’ that has governed Germany since 2013 and secure Ms Merkel’s fourth term in office.

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