Some ten weeks after the German Bundestag elections, a traffic light coalition of Social Democrats, Greens, and Free Democrats took office on December 8, 2021. Olaf Scholz, who served in the previous coalition government as finance minister, was elected chancellor. Now a set of new politicians are in charge. The new year also brought another unexpected leadership change, this one at the Bundesbank. As the traffic-light coalition was negotiating a coalition agreement in a spirit of organizing a new beginning for Germany, meeting the challenges of climate change, holding the European Union together, and coping with mounting geopolitical risks, a bombshell came from Frankfurt.
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