Germany's finance minister run for chancellor in 2021 vote

Germany's center-left Social Democratic Party plans to name Finance Minister Olaf Scholz as its candidate to become chancellor in country's national election next year. Party co-leader Saskia Esken said Monday on Twitter that decision “represents an unexpected twist for some” but asked for members' trust going forward.

Scholz, 62, who is considered to be on right of Social Democrats, will face a candidate yet to be named by Chancellor Angela Merkel's center-right Union bloc. Merkel herself has said she won't run for a fifth term in 2021 election. A former mayor of Hamburg, Scholz took on finance portfolio in Merkel's Cabinet two years ago. He largely continued his conservative predecessor's frugal policies until coronavirus pandemic forced German government to loosen purse strings in a bid to keep ecomy afloat.

Support for Social Democratic Party has slumped from 20.5% in 2017 election to around 15% in recent opinion polls. Along with a decline in its traditional working class support, party has been overtaken on left by environmentalist Green Party.