German Chancellor Angela Merkel announced on Monday that she will no longer run for re-election as party chairwoman and that her fourth term as chancellor would be her last, ending a 13-year era of Merkel “domination”, according to Reuters.
Angela Merkel, 64, has been chairwoman of her conservative Christian Democrats (CDU) since 2000 and chancellor since 2005. Her announcement was released after her party suffered its second regional election setback, in a speech to mark the 20th anniversary of the German Federal Government Commission for Culture and the Media (BKM).
The move sets in motion the process for the CDU to settle on and groom Merkel’s successor. It caused the euro to fall briefly and German government bond yields rose. Party sources quoted by Reuters said Merkel’s favored successor, CDU party secretary general Annegret Kramp-Karrenbauer, Friedrich Merz, a former parliamentary leader of Merkel’s conservative alliance, and Health Minister Jens Spahn had announced their candidacies for the party chair.