FirstFT: state-of-the-art elections produce rival demands to lead Germany

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Leaders of Germany’s two main parties have both claimed to have won a mandate to form the country’s first post-Merkel government, after sharp national elections failed to identify a clear winner.

Armin Laschet, candidate of the conservative CDU / CSU party, and Olaf Scholz of the Social Democrats have each said they will consult other parties on forming a coalition.

German broadcaster ARD’s projections put the center-left SPD in the lead with 25.7%, the Christian Democrats in second with 24.5%, the Greens with 14.3% and the Free Liberal Democrats, or FDP, with 11.5%. .

The unusually close result suggests it may take some time to determine who will rule Germany after Angela Merkel resigns as chancellor after 16 years, with difficult coalition negotiations ahead.

“We are still in a phase of three-dimensional chess. . . It is impossible to say where this evening is going. There are even more possibilities than what had been widely anticipated a few days earlier, ”said Christian Martin, political scientist at the University of Kiel.

Sunday’s Bundestag election was the first in postwar German history when an outgoing chancellor failed to stand for re-election, making the race one of the most volatile and unpredictable in living memory. The SPD, CDU / CSU and the Greens have recorded fluctuations of 10 points in their polls since the start of the year.

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Read more:

  • Laschet scratches the ground: The center-right CDU / CSU may have suffered a historic electoral defeat, but its candidate for German chancellor still managed to make the performance of the SPD shine, writes Ben Hall.

  • FT view: The Germans may yearn for the stability of a Merkel replacement, but they also need their next government to address the issues it leaves behind, not just to deal with crises.

  • What investors want: Berlin’s new government must increase public investment and fund the transition to a greener future, said the group’s chief economist at UniCredit.

  • Commitments made: Parties that have made radically different promises to German voters will be forced to build some sort of consensus, with coalition talks lasting weeks or even months.

  • “Citizen wave” vote: Some of the 1 million refugees admitted to Germany by Merkel during the 2015 migrant crisis voted as they took part in the country’s first elections since becoming citizens.

Thanks for reading FirstFT Asia and here’s the rest of today’s news – Michael.

Five other articles in the news

1. The cities seize the pre-sales of Evergrande At least two local governments in China have taken control of income from sales of properties owned by the world’s most indebted real estate developer, even as Beijing has remained silent on the ongoing liquidity crunch in Evergrande.

2. Scramble to Save Joe Biden’s Plan Democrats brace for a week of “intensity” on Capitol Hill as they fight to iron out differences and save the President’s legislative agenda while avoiding a government shutdown.

3. The French demand submarine repairs Naval Group, the defense contractor at the heart of the diplomatic crisis over the new “Aukus” strategic pact, has pledged to recover tens of millions of dollars from Australia for a canceled 90 submarine contract. billion Australian dollars ($ 65.4 billion).

4. Frictions remain after Meng Wanzhou Release The alleged heir to Chinese tech giant Huawei returned home with nationalist fanfare after nearly three years battling US extradition charges from Vancouver. But experts warn of more “uncomfortable” compromises to come to improve US-China relations.

5. Airbus places its hopes in the hydrojet The CEO of the European aircraft manufacturer says he is ready to start building a commercial hydrogen airliner before the end of the decade. Airbus is convinced that 2035 is a “fair and realistic prospect” for the entry into service of a hydrogen aircraft.

Coronavirus digest

  • Governments may need to intervene to ‘restore order’ in a global logistics market affected by a crisis. delays, supply chain disruptions and record container rates, warns the head of one of Asia’s largest shipping companies.

  • The number of Americans suffering from serious adverse health effects after consuming ivermectin to treat Covid-19 has more than doubled since the pest control drug was falsely touted as a cure for the virus.

  • Companies in Vietnam have warned that a prolonged lockdown endangers the country’s status as a manufacturing hub.

  • Rochelle Walensky, director of Centers for Disaster Control and Prevention, says American kids should be able to go for a walk or a treat this Halloween, especially if they’re outside. (CNBC)

  • we retailers are rushing to recruit staff for the holiday season as the number of unfilled jobs grows, despite the offer of salary increases and severance bonuses in an attempt to address a labor shortage artwork.

Line graph of average hourly earnings ($) showing retail wages in the United States increased during the pandemic

The day to come

Infrastructure vote Monday brings a key moment for Joe Biden’s $ 1 billion infrastructure bill as it is the deadline for the House of Representatives to vote on bipartisan legislation to boost the U.S. economy.

Help at a low price EasyJet is due to announce the outcome of its surprise rights issue. Investors would like to know what the UK-based low cost airline is doing with the money. Meanwhile, the FedEx Freight Delivery Service is holding its annual meeting.

governor’s speech Bank of England Director Andrew Bailey addresses the Society of Professional Economists. And the British central bank publishes monthly statistics on the issuance of capital. IHS Markit will also unveil the latest UK quarterly data for its Scottish Widows Household Finance Index.

What else do we read

The BlackBerry and me The nearly extinct device never achieved what vinyl did in music or Blu-ray in film – a cult fan big enough to withstand the march of taste and invention. But it represented what will be considered the golden age of the Internet, explains our columnist Janan Ganesh.

‘I have a lot of questions for you’ FT Weekend Magazine brought lonely Italian novelist Elena Ferrante and performance artist Marina Abramovic together to discuss art, writing and more, on the occasion of Abramovic’s new exhibition in London.

Marina Abramović

Marina Abramovic © Juno Calypso

Is it time to avoid investing in China? I can’t remember a time when the issue of investing in the country was dominated by unpredictable politics and governance as it is today, writes author George Magnus.

Joe Manchin’s threat to Biden’s spending spree In both the White House and Congress, Democrats’ frustration with the US Senator from West Virginia is growing. But for the people of Marion County, the small, rural coal-mining community that Manchin hails from, the Senate’s most conservative Democrat is a common sense bulwark against partisanship and overspending. Our journalist Obey Manayiti spoke to local voters.

Business Book of the Year 2021 The challenges of climate change, racial discrimination and cybercrime are on this year’s Financial Times and McKinsey Business Book of the Year Award finalists. Andrew Hill, Editor-in-Chief, reviews the six finalists. The winner of the prize will be announced on December 1.

To travel

Houston will soon be the third largest city in the United States. Gary Tinterow, director of the Museum of Fine Arts of Houston, shares his favorite places to eat, drink, enjoy the arts and have fun in the port city. One winter highlight that he never misses is the Houston Livestock Show and Rodeo.

Houston Breeding Show

The Houston Livestock Show and Rodeo: where else can you eat fried Oreos? © Mark Félix / Getty

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