Germany’s Merz vows to stay despite ‘disaster’

Volkswagen's Euro Stoxx 50 exit will force ETF selling of its shares as Europe's auto industry loses ground to Chinese rivals.

• CDU's regional rout: Chancellor Friedrich Merz called his party's showing a "disaster" after the CDU lost two regional elections; the far-right AfD is set to win Mecklenburg-Vorpommern.
• Merz stays put: Despite the losses, Merz has vowed to remain chancellor and continue pushing economic reforms.

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