A coalition deal between the SPD and Merz’s conservative bloc was finalized Wednesday after two weeks of voting by SPD party members, 84 percent of which agreed to join the new government.
Klingbeil, 47, will serve as Merz’s deputy in a grand coalition between the CDU, its Bavarian counterpart Christian Social Union (CSU) and the SPD, set to be sworn in on May 6. He will also take charge of the finance ministry — a post that controls Germany’s federal budget but also shapes fiscal policy for domestic and international projects.
A political scientist from Lower Saxony, Klingbeil has led the SPD since 2021. He previously worked as an aide to controversial former Chancellor Gerhard Schröder and is known for his strategic, deal-oriented leadership style.
Despite steering the SPD through a crushing election defeat earlier this year, Klingbeil emerged from coalition talks with increased clout after personally negotiating key terms with Merz.
As finance minister, he is expected to influence debates on Germany’s fiscal direction, incoming military defense overhaul and foreign aid strategy.