The German newspaper Bild reported that chancellor Angela Merkel and Volker Kauder, the leader of the CDU-CSU conservative party in the parliament had asked the finance minister to take the role of president, which has been unfilled since veteran CDU MP Norbert Lammert’s departure.
According to reports, Schäuble is likely to be formally nominated on October 17.
The job of finance minister is viewed as being “key in coalition talks” as Merkel attempts to put together a government following the general election.
Merkel’s Christian Democrat Union (CDU) party and its sister party, Christian Social Union (CSU), gained the most seats in the Bundestag but with the smallest amounts of votes it has had since 1949.
Talks of a three-way coalition with the Social Democratic Party (SPD) and the Green party have allegedly begun. Alternative for Germany, a right-wing anti-immigrant party, gained 94 seats with 13% of the vote.
The president of the Bundestag, also known as the speaker of the parliament, opens and closes sittings, calls items of business and grants members leave to speak.
Schäuble is a member of CDU and the longest-serving MP in the Bundestag. He was first elected 45 years ago.
