Bangladesh, Feb. 24 -- German Chancellor Olaf Scholz has conceded defeat after Germanys opposition conservative alliance, the Christian Democratic Union/Christian Social Union (CDU/CSU), emerged victorious in a snap election held on February 23. Exit polls released by public broadcaster ZDF indicate that the CDU/CSU secured 28.6% of the vote, marking a decisive win over Scholzs Social Democratic Party (SPD), which recorded its worst performance since World War II with only 16.5% of the vote.

“This is a bitter election result for the Social Democratic Party. It is also an electoral defeat,” Scholz stated, acknowledging the setback. He extended his congratulations to CDU/CSU leader Friedrich Merz, who now faces the task of form...