Friedrich Merz assumed the chancellorship in May 2025 at the head of a CDU/CSU-SPD grand coalition holding a narrow Bundestag majority, following an initial failed investiture vote. Despite record-low approval ratings—with satisfaction below 15 percent and widespread dissatisfaction exceeding 85 percent in early 2026 polls—the government has advanced budget framework agreements for 2027 and health-system reforms. Constitutional rules require the chancellor’s cooperation or a constructive vote of no confidence to remove the officeholder, making premature exit difficult absent a full coalition collapse or snap election. Internal coalition frictions and speculation about leadership changes have surfaced, yet no procedural steps toward ouster have advanced, supporting trader consensus that Merz is likely to remain in office through at least the end of 2026.