Germany's two main parties Angela Merkel's Christian Democratic Union (CDU) along with its Bavarian allies Christian Social Union (CSU) had agreed on various issues with its main rival Social Democratic Party (SPD) in their final round of coalition talks to form countries' new government.
German Chancellor along with other important leader of the parties was in talks early Wednesday in Berlin.
Merkel's conservative bloc of CDU and CSU failed to get a majority in the new parliament and had to find a partner in order to form a new government.
Merkel could be sworn in for a third term if coalition goes through.
Both have agreed on introducing a national statutory minimum wage of 8.50 euros per hour from 2015. The amount of the minimum wage would be set regularly by a commission consisting of seven members from associations of employers and employees.
Both sides also agreed on a retirement age at 63 years after contributing pension for 45 years, as well as highway tolls for foreign autos.
SPD has said that it would let its 470,000 members to decide whether to join a coalition government as it did in Merkel's first term during 2005 and 2009.
(with inputs from IANS)
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