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10/15, 1:35 PM (Source: TeleTrader)
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SPD to start formal talks on coalition with Greens, FDP

Germany's Social Democratic Party (SPD) announced on Friday it has reached an initial agreement on a government coalition with the Greens and the Free Democratic Party (FDP). SPD leader Olaf Scholz saluted the deal, stating it is a "very good result that shows a government can be formed in Germany."

Scholz, SPD's candidate for chancellor, stated the three parties discussed "the largest industrial modernization project that Germany has seen in the last 100 years," including fighting climate change and quitting coal by 2030, increasing the minimum wage to €12 an hour and accelerating digitalization.

Breaking the News / DJ