Germany’s Centre Right Alliance Secures Election Victory
In the recent parliamentary elections held in Germany, the Centre Right Alliance, consisting of the Christian Democratic Union (CDU) and the Christian Social Union (CSU), emerged as the leading party, capturing 28.52% of the total vote. This outcome indicates a potential shift towards a more innovation-friendly political landscape in the country. Meanwhile, the far-right party, Alternative for Germany (AfD), garnered 20.8% of the votes, highlighting a significant presence in the Bundestag.
The German Bundestag comprises 733 seats, and with no single party achieving an outright majority, coalition talks are expected to commence shortly. Mark Foster, the European Union policy lead at the Crypto Council for Innovation, shared his insights with CoinDesk prior to the election, suggesting that the Centre Right Alliance is likely to favor the EU’s strategy concerning digital innovation.
Foster stated, “While I don’t anticipate a drastic overnight transformation in digital assets policy or the approach to the digital euro from the previous government, there may be a newfound openness to explore how these technologies can enhance the competitiveness of both the German and European economies. The drive for job creation and economic growth remains a top priority for the European Commission.”
Despite the significance of the election, Germany’s crypto landscape has remained largely unaffected thus far. As the largest economy in the European Union, Germany called for early elections following the collapse of its coalition government, which included the Social Democrats (SPD), the Free Democratic Party (FDP), and the Greens last November.
Although Germany was slow to implement the EU’s bespoke Markets in Crypto Assets (MiCA) legislation—enacting it just days before the mandated deadline in December—the country has successfully processed MiCA licenses in recent weeks. Foster remains optimistic, asserting that there should be “no significant impact on the day-to-day implementation of existing EU law” as the new government takes shape.
Looking ahead, the newly elected members of parliament will soon face the crucial task of electing the country’s new chancellor, who will lead the federal government in the coming term.
