Germany: Merkel may not run for a fourth term as Chancellor next year - BBH

Research Team at BBH, suggests that following the CDU's loss of support in two state elections this month, there is heightened speculation that Merkel may not run for a fourth term as Chancellor next year. 

Key Quotes

“However, in her post-mortem yesterday, we detect a subtle shift in Merkel, a master tactician. 

She seemed to recognize the need to modify her immigration stance.  The CSU from Bavaria, which has always supported the CDU candidate, has drawn a line.  It wants Merkel to agree to a 200k immigration cap in order to support her fourth term.  There are no more state elections this year.  The CDU annual convention will be held in December.  It is not clear whether Merkel will use that forum to announce her intentions.  It would seem to be in her interest to not declare until absolutely necessary, which deters others from announcing.”