In his eight years in the job, Schäuble made good on a promise to balance Germany’s budget and pay down its debt, even as he steered around the shoals of the euro crisis. In the process, he built a powerbase that Berlin’s chattering classes compare to a mini-chancellery. [...]
If Merkel is forced to trade away the finance ministry to secure a coalition, finding a place for Schäuble will be difficult. Any other Cabinet position she could offer him would pale in comparison. While the foreign ministry and the presidency of the German parliament are both possibilities, neither position would easily accommodate Schäuble’s often acerbic wit. [...]
As Merkel moved the Christian Democrats further to the center over the years, Schäuble became one of the last truly conservative voices in the party’s leadership. He plays a crucial role in shoring up the base. He is also extremely popular among the general electorate, regularly topping approval rankings. That makes him a key voice in selling government policy to the public. [...]
Though Merkel and Schäuble have been working together since shortly after the fall of the Berlin Wall, their personal relationship is not as close as one might expect. Even in private, they still address one another formally as Herr Schäuble and Frau Merkel.
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