German parties agree on "grand coalition"

FRANKFURT,  Three German parties reached an agreement on a "grand coalition" after tough negotiations, local media reported Wednesday morning. 
The Christian Democratic Union (CDU), Christian Social Union (CSU) and German Social Democrats (SPD) ended the allocation of cabinet members among their parties, reports said. 
Chancellor Angela Merkel's CDU would take the economy and defense ministries in a new cabinet, while the SPD would take the foreign, finance and labor ministries, according to German newspaper BILD. 
CSU leader Horst Seehofer would become Interior Minister. 
The final round of talks on forming a new German federal government started on Tuesday, as labor market and healthcare policy points divided the conservative bloc and the SPD. Enditem 
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