Early General Elections in Germany Could Be Held in February

Forex - German Chancellor Olaf Scholz's Social Democrats and opposition lawmakers are nearing an agreement on holding early elections in February. According to government officials familiar with the negotiations between the SPD and the opposition, Chancellor Scholz must first present a confidence vote in the lower house of parliament to trigger a national vote, which is likely to take place in the first half of December. If Chancellor Scholz loses the confidence vote, he may ask the president to dissolve parliament and set a date for elections within 60 days. Carsten Linnemann, Secretary General of the opposition Christian Democratic Union (CDU), stated in an interview with ZDF that early elections could be held on February 16 or 23, adding, "New elections are needed as soon as possible."