You're reading: Bloomberg: Why Merkel’s exit matters beyond Germany

When Chancellor Angela Merkel steps down after 16 years in power, Germany’s status in Europe and the world will be on the line. She put her stamp on global politics defending moderation and liberal values, and as the indispensable leader of an often fractious European Union. Germany’s parliamentary system makes it easier for smaller parties to win blocs of seats, so the path to victory for her successor likely lies in rounds of horse-trading to form a messy three-way coalition government. That process could last for months after the Sept. 26 vote, the most unpredictable in decades.

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