Germany's ruling coalition collapses as strikes disrupt economy

zerohedge.com

Germany's ruling coalition government collapsed on Wednesday after Chancellor Olaf Scholz announced the firing of Finance Minister Christian Lindner. This decision followed ongoing disputes over economic policies and spending, leading to a likely snap election by March. The Free Democratic Party, led by Lindner, is now out of the coalition, which includes Scholz's Social Democratic Party and the Greens. Scholz will call for a confidence vote on January 15, which he is expected to lose. Amid this political turmoil, mass strikes have erupted in Germany's metal and electrical industries, led by the IG Metall union, demanding higher wages due to rising inflation. Volkswagen announced plans to close several plants and lay off thousands, citing a challenging economic environment.


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