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Social Democrat co-leader Lars Klingbeil will become Germany’s next finance minister and vice-chancellor, following the approval of a coalition deal with the Christian Democrats (CDU). Despite leading the SPD to its worst election result, Klingbeil successfully negotiated a €500 billion infrastructure fund while securing key campaign pledges. His immediate focus will be drafting budgets for 2025 and 2026 to address the country’s economic challenges, with markets closely watching the government’s budgetary timeline.
