German Chancellor Scholz Called for Early Elections

German Chancellor Olaf Scholz called for early elections following the collapse of the three-party ruling coalition, Bloomberg reported.

Scholz called for a confidence vote by January, with the aim of moving next year’s federal parliamentary elections from September to March.

The decision came after Scholz, from the Social Democratic Party, dismissed the leader of the Free Democratic Party (FDP) party and Finance Minister Christian Lindner, saying that he had rejected a proposal that would suspend rules limiting government borrowing.

“Necessary compromises have been overshadowed by public disagreements and ideological demands,” Scholz said in a statement, according to Bloomberg.