Angela Merkel is likely to be re-elected as Germany's chancellor for a fourth term in an election next Sunday, a result that could seal the continent's fate in terms of ever closer political and economic union.
If voter polls are to be believed, pro-European Merkel's victory is assured with her conservative coalition ahead of the pack. The latest voter poll published on Sunday by the Bild am Sonntag newspaper showed Merkel's conservative CDU-CSU coalition with 36 percent of the vote, ahead of rival SPD party which was seen with 22 percent of the vote. In third place was the anti-immigration AfD party with 11 percent of the vote.
Jörg Ambrosius , the managing director of State Street Bank International, told CNBC on Monday that the election was "a very important election for the future of Europe."
"My personal view is that there is now a time window opening when Germany and France could renew this French-German axis that drove the European agenda for quite some time in the past and I think now, with the economic recovery - and in the light of Brexit - there is a unique chance to bring the European Union, and financial union, to the next level."
It's expected that Merkel will have to form another coalition with another party - either repeating the same tried and tested "grand coalition" with the SPD or forming a new alliance with the smaller pro-business FDP party and Greens in a so-called "Jamaica coalition," so named due to the colors of the political parties involved.