The results of the general elections held in Germany yesterday were finalized this morning. This country, which holds Europe’s greatest economic and political power, will once again be governed by a coalition government in the coming term. This was an expected outcome, though it was uncertain whether the coalition would consist of two, three, or even four parties. With the liberal FDP and the far-left BSW failing to surpass the electoral threshold, the two major centrist parties secured enough parliamentary seats to form a government. There appears to be no obstacle to a coalition between the CDU/CSU, which received the most votes, and the social democratic SPD in the upcoming term. This situation is, in a way, the lesser evil for Germany—and perhaps even a bit of luck. Had BSW managed to secure even a fraction of a percent more votes, a three-party coalition would have been necessary.

While the official winner of the election is the Union parties (CDU/CSU) with 29% of the vote, the real significant gain was made by the far-right AfD. One in every five voters cast their ballot for this party. Although they face a “firewall” erected by other parties, this Nazi-leaning party will now, as the main opposition, have a stronger voice both in parliament and in society.

It can be said that the overall winners of the election were extremist and populist parties. The far-left parties, Linke and BSW, together garnered 14% of the vote. BSW, a new party participating in its first election, secured around 5%, while Linke significantly increased its vote share. The combined vote share of far-right and far-left parties reaching 35% is quite striking. This reflects that the rising wave of populist politics in the West has now engulfed Germany as well.

All three parties from the previous governing coalition suffered significant losses. The votes of the junior coalition partner, the liberal FDP, dropped by nearly half, and FDP leader Christian Lindner announced his withdrawal from active politics. A similar announcement is expected from SPD leader and former Chancellor Olaf Scholz. It would not be an exaggeration to say that Germany is entering a new political wave.

Although the votes of the center-right and center-left are sufficient to form a government, they fall short of the threshold required for constitutional amendments. Yet, constitutional changes seem essential for Germany in its current situation. For instance, the debt brake debate, which brought down the previous coalition, is a constitutional matter. Worse still, even external support from the Greens would not suffice for constitutional amendments. The new government will need to seek support from far-left parties, which will likely involve significant concessions in negotiations.

Saying that these elections will bring stability to Germany might be overly optimistic. Coalition negotiations will likely drag on for months. Pressing issues awaiting resolution include not only political matters like Ukraine, Russia, and Trump but also a slowing economy and economic stagnation. How societal pressure from populism will affect reforms in these areas remains to be seen.