Olaf Scholz Poised to Succeed Angela Merkel as German Chancellor

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Bloomberg Quicktake: Now published this video item, entitled “Olaf Scholz Poised to Succeed Angela Merkel as German Chancellor” – below is their description.

Olaf Scholz set out to steer Germany through the resurgent pandemic and transform Europe’s largest economy into a climate leader as the Social Democrat prepared to succeed Angela Merkel as chancellor. 

In a presentation in an industrial hall along Berlin’s Spree river, the 63-year-old first addressed Germany’s brutal Covid-19 outbreak in a sign of the pressure already bearing down on him and his partners even before they’ve formally formed the next government. He then called for a wave of spending to upgrade the industrial economy and combat climate change. 

After nearly two months of intense negotiations, Scholz’s center-left Social Democrats reached a deal with the Greens and the pro-business Free Democrats early on Wednesday, drawing a line under Merkel’s 16-year tenure. 

Despite the bravado, many of the proposals remain vague. Climate protection policies to get Germany in line with the Paris accord are a work in progress that the parties only intend to finish by the end of next year. And much of the spending for the country’s technological overhaul will depend on investors, as the coalition agreed to stick to borrowing restrictions.

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