A tentative German coalition government deal cleared a key hurdle today when the Social Democrats' party board gave the green light to the agreement hammered out in marathon talks.
The SPD, Germany's second largest party, said in a statement that its 45-member board had overwhelmingly given its blessing to formal coalition negotiations with Chancellor Angela Merkel's conservatives following a deal in principle sealed earlier in the day.
The draft programme, outlining policy goals during Merkel's fourth term, must now be approved by 600 SPD delegates at a party congress on January 21 and then by the party's more than 400,000 rank and file members.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
