So the view from America is that this result, while not ideal, looks pretty good. At least it appears to reflect the actual will of the voters.
But I think no voter intended to create a situation which is not clear, they hoped for a either a black-yellow take-over or for continuation of red-green, I guess. The fact that the vote ended up to create a situation that seems to indicate that neither of the two solutions is wanted without replacing them with a new clear-cut coalition is a problem.
You simply don't know, if the voters would rather have a black-yellow-green coaltion under Merkel or a grand coalition under Merkel or Schroeder or a red-green-yellow coalition under Schroeder.
So, what is the will of the voter? It's not clear. That's the problem.
And surely the 12 or 13% who voted for parties other than CDU/CSU, SPD, FDP or Greens did not want either red-green or black-yellow.
The will of the people is truly unclear, and this is fairly represented in the results. Now it's up to the people's elected representatives to figure out the mess. That's representative democracy.
Two other thoughts about this situation as it now stands: