Germany, new elections are expected on February 23 - The vote of confidence on December 16 will pave the way for the formation of a new government
Germany is expected to hold new elections on February 23, 2024, after the collapse of Chancellor Olaf Scholz's coalition. These elections come at a time of economic and diplomatic crisis, where international tensions and inflation have deepened insecurity in the country.
Germany is expected to hold new elections on February 23, eleven weeks after the collapse of Chancellor Olaf Scholz's ruling coalition, with sources saying the confidence vote will be held on December 16.
The date is a compromise between the conservative opposition, which wanted votes in January for fear of leaving Germany without a rudder at a time of economic and diplomatic crisis, and Scholz, who wanted elections in mid-March to give authorities and parties more plenty of time to prepare.
Inflation, Russia's invasion of Ukraine, intensified competition from China and the return of US President-elect Donald Trump have combined to create a perfect storm for Germany, whose economy thrived on abundant energy and an environment pro-trade international politician. Reflecting this, the ZEW Institute's investor sentiment index fell to 7.4 points on Tuesday, from 13.1 points in October, a much larger drop than analysts had expected.
A government with a clear majority would be better able to broach topics such as reining in Germany's debt, blamed by many economists for the country's low investment rate.
Friedrich Merz, leader of the Christian Democrats and current poll favorite to become chancellor, has so far ruled out lifting the debt curb. But he has promised major tax reform.
The Dec. 16 vote, in which parliament will vote no-confidence in Scholz, will allow President Frank-Walter Steinmeier to call new elections. Scholz, who currently leads a minority government backed by the Greens, hopes to secure enough opposition support to protect the Constitutional Court from the far-right and increase funding for Ukraine before leaving office.
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