Germany's Social Democrats (SPD) backed a coalition deal with the CDU/CSU conservatives on Wednesday in the final step to forming a government in Europe's largest economy, and nominated their leader Lars Klingbeil as finance minister.

Over the last two weeks, SPD members have voted on the coalition treaty drawn up by leaders of both parties. Their approval, which is widely expected, would enable conservative leader Friedrich Merz to become chancellor on May 6.

Members of Germany's Social Democratic Party (SPD) have overwhelmingly approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), paving the way for a new government.