German chancellor Scholz set to put in request for confidence vote later today

Scholz is widely expected to lose the vote, after having seen his coalition collapse in November. For some context, his government does not command a majority already. The vote is all but a formality to tee up fresh federal elections in Germany. That will happen once Scholz loses the vote and has to dissolve parliament. The snap election is then expected to take place on 23 February.

It’s a testing time for two of Europe’s largest economies, with France also caught in a political quagmire after Barnier lost his confidence vote as prime minister. Couple that with economic woes, it sets up a challenging outlook heading into next year.

This article was written by Justin Low at www.forexlive.com.