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 (1949–present) term in office ends or if they resign, the Bundestag has to elect a new Chancellor. The President of Germany may ask the former Chancellor to act as Chancellor until a new office holder is elected, but if they are unwilling or unable to do so, the President may also appoint the Vice Chancellor as Acting Chancellor until a successor is elected. This has happened once: On 7 May 1974 Chancellor Willy Brandt resigned as a consequence of the Guillaume Affair, an espionage scandal. In his letter of resignation to President Gustav Heinemann he wrote: President Heinemann followed the request.