The three parties talking about a new alliance in Germany will present their coalition agreement this afternoon. The Social Democratic Socialist Party, the Green Party and the Free Democratic Party will hold a press conference at 3 p.m. to explain the plans.
The deal means that SPD leader Olaf Scholz is likely to become the new chancellor. The Bundestag will vote on it. Thus he became the successor to Angela Merkel (CDU), whose resignation after sixteen years. Her party suffered a huge loss in the elections at the end of September, and Merkel had already indicated that she did not want to run again.
Coal-fired power plants
The Traffic Light Coalition, named after the colors of the three parties, had earlier said it was committed to modernizing the economy and fighting climate change.
Some plans of the SPD, the Green Party, and the FDP have already appeared in an exploratory document. This included early retirement for coal-fired power plants and an increase in the minimum wage from €9.60 to €12 an hour.
Formal negotiations on a new coalition agreement began on October 21. At the beginning of October, the head of the SPD already predicted the formation of a new government before December.
The deal still needs the approval of the members of both parties.
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