Germany’s Social Democratic Party (SPD) head and the junior partner in Chancellor Angela Merkel's coalition government, Andrea Nahles, on Sunday announced that she would resign from her position, citing a lack of support she needed to continue.

“The discussions within the parliamentary faction and feedback from within the party have shown me that I no longer have the necessary support to carry out my duties,” Nahles said in an official statement.

The fact that this developments is likely to create a short-term political uncertainty in the euro area's biggest economy suggests that the shared currency could start the week on the back foot.