Berliner Boersenzeitung - Relief for Germany's Scholz as party wins key electoral test

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

Relief for Germany's Scholz as party wins key electoral test
Relief for Germany's Scholz as party wins key electoral test / Photo: Ronny Hartmann - AFP

Relief for Germany's Scholz as party wins key electoral test

Germany's Social Democrats on Sunday won a closely-fought regional election that was dominated by worries over soaring energy costs, giving Chancellor Olaf Scholz a welcome boost as a difficult winter looms.

Text size:

Scholz's centre-left SPD was set to remain the largest force in the coastal state of Lower Saxony, taking around 32.7-33.3 percent of the vote, according to exit polls by public broadcasters ARD and ZDF.

The conservative CDU party of former chancellor Angela Merkel came a distant second at 27.5 percent, its worst result in the state in six decades.

The election was widely billed as a key test of Scholz's handling of the energy crisis caused by Russia's war in Ukraine. The outcome marks a turnaround after his SPD lost the last two regional polls to the CDU, in North Rhine-Westphalia and Schleswig-Holstein.

The Greens, Scholz's coalition partners on the federal level, surged to around 14 percent, their best-ever showing in the state.

The far-right AfD also had reason to cheer, nearly doubling its result from five years ago and climbing to almost 12 percent as it capitalised on voter anger over the rising cost of living.

The AfD "is a protest party" that benefits from "crisis and fears", political scientist Karl-Rudolf Korte told ZDF.

The liberal FDP, Scholz's third coalition partner in Berlin, appears to have only narrowly scraped the five-percent threshold required to enter into the regional parliament, according to the preliminary results.

- 'Referendum' -

The Lower Saxony election was "very important" for Scholz, Korte told ZDF, calling it "a referendum" on the federal government's handling of myriad crises since coming to power almost a year ago.

Russia's war in Ukraine has sent energy costs soaring, pushing German inflation to a record-high of 10 percent in September and fuelling fears of a looming recession in Europe's top economy.

Support for Scholz's SPD has fallen below 20 percent in national opinion polls, well behind the CDU in first place. Scholz's own popularity ratings have also taken a hit.

Lower Saxony's incumbent premier Stephan Weil from the SPD, whose popularity with local residents played a large role in Sunday's victory, said he was "relieved" his party had a clear mandate to govern in Lower Saxony.

"We fought and tonight we won, my friends," he told supporters.

Weil, set for a third consecutive term, had previously called the election contest "the most difficult of my life".

"Never have I seen so many question marks and worries on citizens' faces," he said.

The 63-year-old has cast himself as a safe pair of hands in uncertain times and wants Lower Saxony -- home to auto giant Volkswagen as well as most of Germany's wind turbines -- to play a leading role in the green energy transition.

He has also welcomed a 200-billion-euro ($198-billion) energy fund newly unveiled by Scholz to shield German consumers from price shocks.

The fund however has been criticised by European neighbours who don't have the same fiscal largesse and fear a splintering of EU unity on Ukraine.

Weil's main challenger in Lower Saxony, state economy minister Bernd Althusmann from the CDU, announced his resignation as regional party leader shortly after the results were announced.

Sunday's vote was "not a pretty result for us", said CDU secretary general Mario Czaja.

The path is now clear for Weil to ditch his coalition government with the CDU and team up with the Greens instead.

- Nuclear plant row -

A major bone of contention between the SPD and the CDU during the election race was the fate of Lower Saxony's Emsland nuclear power plant -- one of only three still operational in Germany.

The CDU has been angered by Berlin's decision to proceed with Emsland's planned shutdown this year, despite the need for energy diversification as the country weans itself off Russian gas and oil.

German Economy Minister Robert Habeck, from the traditionally anti-nuclear Greens, recently announced the other two plants will be kept on standby until April 2023, in a landmark U-turn.

Weil has backed Berlin's stance, saying Emsland was not needed to secure Lower Saxony's energy supply.

(K.Müller--BBZ)