German Chancellor Olaf Scholz loses confidence vote, triggering early elections

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German Chancellor Olaf Scholz loses confidence vote, triggering early elections
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The political turbulence has hit Germany as it struggles to revive a stuttering economy hammered by high energy prices and tough competition from China.

Rising energy prices, high inflation, a decrease in exports and the ailing car industry, struggling with increasing Chinese competition and the transition to electric vehicles, have all contributed to stagnating economic growth. Addressing parliament ahead of the vote on Monday, Scholz said there were important political issues facing Germany, including long-overdue investments in its ailing economy, that required the public's input.

Friedrich Merz, the top candidate of the conservative CDU/CSU alliance who is seen as most likely to replace Scholz, accused the chancellor of leaving behind one of the country's greatest economic crises in Germany's post-war history. Now that MPs have withdrawn their confidence in Scholz's government, the chancellor will immediately ask President Frank-Walter Steinmeier to dissolve parliament and call early elections seven months earlier than originally planned.

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