German Chancellor Olaf Scholz’s party, the Social Democratic Party (SPD), along with opposition Members of Parliament (MPs), have agreed to hold early federal elections on 23 February.
To initiate the election process, Chancellor Scholz must first call for a vote of no confidence in the lower house of parliament. This vote is expected to take place in early December. If the chancellor loses the vote, he can request that the German president dissolve parliament and schedule elections within 60 days.
Germany, Europe’s largest economy, was thrown into political uncertainty last week after Scholz dismissed Finance Minister Christian Lindner of the Free Democratic Party (FDP). This decision led to the collapse of the ruling coalition following a dispute over borrowing to bolster military support for Ukraine.
Initially, Scholz had proposed a no-confidence vote in January, with elections to follow “at the end of March.” However, representatives from the business community and members of the main opposition party, the Christian Democratic Union (CDU), pushed for an earlier date. They argued that elections in March would prolong the nation’s uncertainty and that a February vote would help restore political stability.
