Even though negotiations to form a coalition have not yet begun, the head of the Christian Democratic Union party, which came out on top in Germany's February 23 elections, has already embarked on major projects in his country and abroad.

An agreement has been reached on plans by German chancellor hopeful Friedrich Merz to massively ramp up public borrowing, a source from the Greens party said on Friday, adding: "We are satisfied." Greens' support is seen as crucial to Merz's bid to pass the debt plan with a two-thirds majority in Germany's outgoing parliament.