History of Germany since 1990 Helmut Kohl was reelected as Chancellor for his fifth and last term. The ruling liberal-conservative coalition government, consisting of the CDU/CSU and the FDP, lost the German federal election, 1998, and Gerhard Schröder was elected as Chancellor, the head of a coalition government consisting of his own SPD party and The Greens. Joschka Fischer, a leading Green politician, became Vice Chancellor and Foreign Minister. Shortly after the formation of the government, Minister of Finance Oskar Lafontaine, a former SPD chairman and rival of Schröder, resigned from the cabinet. He was succeeded as Minister of Finance by Hans Eichel. In 1998,
Chancellor of Germany is the country's effective leader, although in formal protocol, the "Bundespräsident" and "Bundestagspräsident" are ranked higher. In German politics, the chancellor is the equivalent of a prime minister in many other countries. The chancellor is elected by the Bundestag. The current, official title in German is "Bundeskanzler(in)", which means "federal chancellor", and is sometimes shortened to "Kanzler(in)". The 8th and current chancellor is Angela Merkel, who is serving her fourth term in office. She is the first female chancellor. The title of Chancellor has a long history, stemming back to the Holy Roman Empire, when the office of German archchancellor