AGL 37.72 Decreased By ▼ -0.22 (-0.58%)
AIRLINK 168.65 Increased By ▲ 13.43 (8.65%)
BOP 9.09 Increased By ▲ 0.02 (0.22%)
CNERGY 6.85 Increased By ▲ 0.13 (1.93%)
DCL 10.05 Increased By ▲ 0.52 (5.46%)
DFML 40.64 Increased By ▲ 0.33 (0.82%)
DGKC 93.24 Increased By ▲ 0.29 (0.31%)
FCCL 37.92 Decreased By ▼ -0.46 (-1.2%)
FFBL 78.72 Increased By ▲ 0.14 (0.18%)
FFL 13.46 Decreased By ▼ -0.14 (-1.03%)
HUBC 114.10 Increased By ▲ 3.91 (3.55%)
HUMNL 14.95 Increased By ▲ 0.06 (0.4%)
KEL 5.75 Increased By ▲ 0.02 (0.35%)
KOSM 8.23 Decreased By ▼ -0.24 (-2.83%)
MLCF 45.49 Decreased By ▼ -0.17 (-0.37%)
NBP 74.92 Decreased By ▼ -1.25 (-1.64%)
OGDC 192.93 Increased By ▲ 1.06 (0.55%)
PAEL 32.24 Increased By ▲ 1.76 (5.77%)
PIBTL 8.57 Increased By ▲ 0.41 (5.02%)
PPL 167.38 Increased By ▲ 0.82 (0.49%)
PRL 31.01 Increased By ▲ 1.57 (5.33%)
PTC 22.08 Increased By ▲ 2.01 (10.01%)
SEARL 100.83 Increased By ▲ 4.21 (4.36%)
TELE 8.45 Increased By ▲ 0.18 (2.18%)
TOMCL 34.84 Increased By ▲ 0.58 (1.69%)
TPLP 11.24 Increased By ▲ 1.02 (9.98%)
TREET 18.63 Increased By ▲ 0.97 (5.49%)
TRG 60.74 Decreased By ▼ -0.51 (-0.83%)
UNITY 31.98 Increased By ▲ 0.01 (0.03%)
WTL 1.61 Increased By ▲ 0.14 (9.52%)
BR100 11,289 Increased By 73.1 (0.65%)
BR30 34,140 Increased By 489.6 (1.45%)
KSE100 105,104 Increased By 545.3 (0.52%)
KSE30 32,554 Increased By 188.3 (0.58%)

Germany's second biggest party, the Social Democrats, on Friday named their ministers in Chancellor Angela Merkel's next government, completing a cabinet lineup in which they snatched the trophy finance and foreign affairs portfolios. Olaf Scholz, 59, the interim leader of the Social Democrats (SPD), will take over the powerful finance ministry which in recent years was led by fiscal hawk Wolfgang Schaeuble of Merkel's Christian Democrats (CDU).
Heiko Maas, the SPD's outgoing justice minister, will take the prestigious post of running the foreign ministry, according to the party's designated next leader Andrea Nahles.
Both Merkel's conservative CDU/CSU bloc and the SPD, the two mainstream parties in Europe's biggest economy, lost millions of votes to far-right populists in last September's election. This has forced them, after six months of torturous negotiations involving multiple parties, into another unhappy marriage of convenience dubbed a grand coalition or "GroKo".
Merkel, aged 63 and in power for 12 years, is due to formally launch her fourth-term government next Wednesday. But unrest is brewing within her party following a historically poor election result and Merkel's decision to give up key cabinet posts as the price of holding onto power.
Given the mutual distrust between the two big parties, "it's possible that this coalition won't last four years," one senior CDU source has told AFP. "Unlike in the past, I'm not sure this time." The SPD, demoralised by plummeting poll figures and damaging infighting, on Friday celebrated rare good news - the key ministries they have wrested from Merkel's team in tough coalition haggling.
Scholz said the SPD's ministers, three men and three women, were "a good team of people with a high level of expertise and the ability to run large organisations". Nahles then formally announced that Scholz, the mayor of the city-state of Hamburg, would take over the finance ministry, which has been led in recent months by Merkel's deputy Peter Altmaier, 59.
She said Scholz had led the wealthy river port "with a keen eye on finances, with budgetary discipline on the one hand and future-oriented investments in education, research and infrastructure on the other". Nahles then introduced incoming foreign minister Maas, 51, praising his "endurance" as a triathlete and the "diplomatic finesse, backbone and clear stance against racism" he had shown as justice minister.
She said this would help Maas, who has little international experience, in a job where Germany increasingly acted "as a mediator in a disorderly world". Taking over the justice portfolio will be Katarina Barley, 49, a former judge, while Hubertus Heil, 45, becomes labour minister and Berlin local politician Svenja Schulze, 49, takes on the environment post at a time Germany is on course to miss its ambitious climate targets.

Copyright Agence France-Presse, 2018

Comments

Comments are closed.