Schäuble leaves German government marking the end of an era
Wolfgang Schäuble (CDU), who has been the German finance minister since 2009, has confirmed he will not seek the post again and instead will stand for president of the federal parliament.
The 75-year-old managed to balance Germany’s budget for the first time, and became the most powerful figure next to Angela Merkel in government.
His insistence on austerity policies during the economic and financial crisis at European level have drawn many criticisms.
Schäuble is uniquely suited to the post of president of parliament. He has been an MP since 1972, and would be able to handle AfD provocations in the Bundestag. Schäuble was interior minister under Helmut Kohl, and his chief of staff. He was very much involved in organising the German reunification.
“If the liberals succeed in taking over the finance ministry, they’re unlikely to abandon Schäuble’s parsimony. Like Schäuble, FDP leaders are champions of budget discipline and take a sceptical view of plans put forth by French President Emmanuel Macron, such as a substantial eurozone budget.”