German Conservatives, Social Democrats Edge Closer to Coalition

WATCH: Germany’s conservatives and the Social Democrats agreed to deepen talks on forming a new governmen. Chris Reiter breaks down the situation.Source: Bloomberg

Germany’s conservatives and the Social Democrats agreed to deepen talks over forming a new government, a step forward as pressure builds on Chancellor-in-waiting Friedrich Merz to implement sweeping reforms.

At a press briefing in Berlin on Saturday, Merz said the parties have agreed to tighten border controls to reduce illegal immigration as well as implement reforms aimed at supporting German industry, including lowering energy costs and corporate taxes.