European Parliament President Josep Borrell sent his congratulations on Monday to Germany's Christian Democratic Union leader Angela Merkel who is set to be the new chancellor.

"It is important that the two big German parties have reached agreement on the formation of a future government. I need to congratulate Mrs Merkel, who, moreover, will be the first female chancellor of the Federal Republic of Germany," said Borrell in a statement.

"Many European issues await urgent decisions. I am convinced that the next (German) government will throw its full weight so as to contribute to their progress," said Borrell.

Merkel's conservative Christian Democratic Union and outgoing Chancellor Gerhard Schroeder's Social Democrats reached a power-sharing agreement on Monday, ending three weeks of political deadlock in the largest economy of the European Union.

Source: Xinhua