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German finance minister Schaeuble to become parliament president: Source

German Finance Minister Wolfgang Schaeuble arrives at a euro zone finance ministers meeting in Brussels, Belgium, August 14, 2015.
Francois Lenoir | Reuters
German Finance Minister Wolfgang Schaeuble arrives at a euro zone finance ministers meeting in Brussels, Belgium, August 14, 2015.

German Finance Minister Wolfgang Schaeuble will become President of the German parliament, a position that would require him to quit as minister, a conservative party source told Reuters on Wednesday, confirming a report by Bild newspaper.

Bild reported that Schaeuble, the longest-serving member of parliament, had been urged by Chancellor Angela Merkel to take the post of president of the Bundestag parliament, and that Schaeuble had agreed to do so.

The Free Democrats, one of Merkel's likely coalition partners, have said they want the post of finance minister in any government they support.

The Finance Ministry declined to comment on the report.