Yesterday's announcement that Angela Merkel would become chancellor removed the biggest question mark hanging over the political future of Germany. Yet in many other respects it marked the beginning, not the end, of the horse-trading that will lead to the formation of the next government.

Beginning next Monday, Ms Merkel's Christian Democratic Union and its rival, the Social Democratic party, will start to draft a detailed programme covering all aspects of government work - fiscal, labour market, economic and foreign policies. An agreement is expected on November 12.