FX Guys

Crisis-hit Germany headed for February 23 snap election

Germany, mired in political crisis, is headed for February 23 elections, the main parties agreed Tuesday, aiming to form a stable government after Chancellor Olaf Scholz’s three-party coalition collapsed last week.

The two biggest parties agreed on the early timetable, which would see centre-left leader Scholz seek a vote of confidence on December 16, paving the way for the February vote, coalition sources said.

Scholz’s Social Democrats (SPD), now in a minority government with the Greens, hammered out the compromise date with the conservative opposition Christian Democrats (CDU) and their Bavarian allies CSU.

The agreement seeks to quickly restore political stability at a time when Europe’s biggest economy is set to shrink for a second year in a row and amid heightened geopolitical volatility, with wars raging in Ukraine and the Middle East.

The election date would mean Germany will be…
Read More