German president warns democracy under threat after 'bitter setbacks' since reunification

In his final Unity Day speech, German President Frank-Walter Steinmeier warned that the optimism of reunification has been eroded by 'bitter setbacks,' citing democratic backsliding and social divisions. The speech reflects growing concern over political polarization and the rise of extremist parties in Germany, though it does not specify concrete policy changes. This is a symbolic political statement rather than a market-moving event.