Germany Appoints Katherina Reiche as Economy Minister

Friedrich Merz, Germany's incoming chancellor, has nominated Katherina Reiche, CEO of energy firm Westenergie and a former parliamentarian, as the next economy minister as part of his cabinet selections following a coalition agreement with the Social Democrats (SPD). Reiche's blend of private sector leadership and government experience is seen as a strategic asset as Germany confronts potential recession and global trade tensions. The coalition, led by Merz’s CDU/CSU, aims to boost economic growth, lower energy prices, and support industries like electric vehicles while addressing challenges such as high energy costs and international trade disputes. Other key appointments include Johann Wadephul as foreign minister. The official announcement of these ministerial roles is expected soon, underscoring the urgency to address Germany's economic and geopolitical challenges. The new government also plans significant fiscal measures, including increased spending on infrastructure and defense.