Angela Merkel struggled to hang on to power

Sept 24 witnessed Merkel won as chancellor in elections, assigning her in the front ranks of Europe’s most powerful leaders. Nevertheless, Merkel will have to govern with an inconstant coalition because her victory this time was blurred by the entry of a far-right party into Parliament.

According to preliminary results, the anti-immigration party called “Alternative for Germany” (AfD) - the first far-right one entering Parliament in more than half a century - won 13.0 percent of the vote, nearly threefold compared to its 4.7 percent in 2017. This was more than anticipated, reflecting voter’s anger over immigration and inequality.

Burkhard Schroder, an AfD member since 2014 from Dusseldorf, said. “We are absolutely euphoric here. This is a strong victory for us that has weakened Angela Merkel.”

Meanwhile, the Social Democrats (SPD), who have served with Merkel’s conservatives as subordinate partners during the period from 2013 to 2017, got just 20.6 percent of the vote, the worst result since World War Two.

Speaking about the far right’s success, the German chancellor emphasized that her governing mandate seemed a redoubtable challenge because she had no choice but to associate a three-way coalition with the liberal Free Democrats (FDP) and the Greens.

“We expected a better result, that is clear,” Chancellor Angela Merkel humbly said Sunday night after her conservative bloc decreased to 32.9 percent of the vote from the 2013 level of 41.5 percent. “The good thing is that we will definitely lead the next government. We are the strongest party, we have the mandate to build the next government - and there cannot be a coalition government built against us.”

Ms. Merkel also asserted that she would listen to people giving support to the Alternative for Germany, and try her best to solve problems by taking up their worries to win them back.

Thomas Heilmann, a member of Parliament from the CDU, appraised that governing Germany wouldn’t remain an easy task anymore. “It is definitely not a good day for Germany and most likely not good for Europe either.”

Right after the election’s outcomes, the Euro dropped around 0.4 percent in Monday’s Asian trading session since it was quite obvious that a tricky coalition would be formed.
See also:
Weekly market overview September 17 - 21
Weekly market overview September 17 - 21
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