Enter multiple symbols separated by commas

Merkel and SPD in breakthrough on coalition talks, conservatives say

Angela Merkel, German Chancellor and Chairwoman of the German Christian Democrats (CDU).
Getty Images
Angela Merkel, German Chancellor and Chairwoman of the German Christian Democrats (CDU).

German Chancellor Angela Merkel's conservatives and the centre-left Social Democrats (SPD) made a breakthrough early on Wednesday in talks about forming a "grand coalition" government, two top conservative politicians said on their Twitter accounts.

Germany's two biggest political forces negotiated through the night and reached a breakthrough at about 5 a.m. (0400 GMT), said senior Merkel lawmaker Michael Grosse-Broemer and Annegret Kramp-Karrenbauer, the conservative premier of Saarland state.

Two months after Merkel's election victory and a month after coalition talks began, the agreement, if confirmed, would enable her to firm a government by Christmas - if the SPD gets approval in a vote among more than 474,000 party members.

(Read more: The euro was made for Germany: Ex Spanish PM)

The party leaders are expected to present details of a deal at a news conference on Wednesday, the deadline set by Merkel. But they may wait two more weeks to announce the allocation of cabinet posts.

Contact Europe News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Europe Video

  • Should supermarkets warn on sugar content?

    Kawther Hashem, nutritionist and researcher for "Action on Sugar," explains why transparent labeling on sugary foods should be more widely used in U.K. supermarkets.

  • Teva to buy Allergan Generics for $40.5B

    Teva Pharmaceutical has announced plans to acquire Allergan's generic drug business for $40.5 billion. Ronny Gal, stock analyst at Sanford C. Bernstein, discusses.

  • China markets in frenzied fall

    On Monday, the Shanghai Composite had its biggest one-day drop since Feb 2007, yet Douglas Morton, head of Asia research at Aviate Global, explains why the moves aren't that extraordinary.