Germany's Schaeuble gives valuable backing to old Merkel rival to head party

FILE PHOTO: German Parliament Wolfgang Schaeuble addresses the parliament before the start of the 2019 budget debate at the lower house of parliament Bundestag in Berlin, Germany, September 11, 2018. REUTERS/Hannibal Hanschke

BERLIN (Reuters) - Veteran German conservative Wolfgang Schaeuble, a highly-respected figure in his party, has publicly backed Friedrich Merz, a former rival of Angela Merkel, to succeed her as head of the Christian Democrats (CDU) in a vote set for Friday.

The winner will be in pole position to be the CDU's candidate for chancellor of Europe's biggest economy in a 2021 election and the outcome could even spell the end of Merkel's coalition with her Bavarian allies and Social Democrats (SPD).