German Chancellor Scholz angles for an election before the end of March | Forexlive

Add some political intrigue into the mix as German Chancellor Scholz says he will call for a confidence vote on Jan 15 that would allow for election before the end of March.

He also highlighted that “of all the rich democracies, we have by far the lowest debt”. That’s the sort of thing a politician says right before he spends it. He highlighted that the Russian war on Ukraine is grounds for suspending debt rules. Of course, what he really means is that a US trade war and his faltering political fortunes are the real grounds, but time will tell if he gets the mandate he wants.

His approval is at 18% and his party got just 14% of the vote in European elections in June.