The next German government will take months more to emerge and will be distinctly fragile in comparison with its predecessors. The end of the Merkel era has surely begun, though whether it has weeks, months or a short number of years to run is anyone's guess. Last night's events confirmed Emmanuel Macron as Europe's top leader while making the French president's grand plans for euro-zone reform—for which he needs a confident and outward-looking Germany—yet harder to achieve. The ripples of Mr Lindner's doubtful decision will travel far beyond his country's borders.
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