• Bloomberg, Reuters

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Chancellor Angela Merkel may be running out of road after 12 years at the country’s helm.

With attempts to form a fourth-term government in disarray, Merkel’s once unquestioned ability to steer Europe is waning as the region’s biggest economy heads into uncharted waters and possibly a protracted political stalemate. Markets reacted with unease, with the euro slumping the most in three weeks against the dollar.

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