Germany's centrist parties on Monday signed a coalition agreement and announced additional members of cabinet. The CDU's Friedrich Merz and the new cabinet ministers are set to take office Tuesday. The SPD's Lars Klingbeil is expected to serve as finance minister and vice-chancellor.

German conservative Friedrich Merz vowed on Monday to move swiftly to reform Europe's largest economy, a day before he is due to be sworn into office as chancellor and head of a coalition with the centre-left Social Democrats (SPD).

Germany’s Social Democrats named their seven ministers to serve under incoming conservative Chancellor Friedrich Merz, with SPD Co-leader Lars Klingbeil confirmed in the key finance post and Boris Pistorius continuing at defense.