BERLIN: Germany, mired in political crisis, is headed for February 23 elections, the main parties agreed Tuesday, aiming to form a stable government after Chancellor Olaf Scholz’s three-party coalition collapsed last week.

The two biggest parties agreed on the early timetable, which would see centre-left leader Scholz seek a vote of confidence on December 16, paving the way for the February vote, coalition sources said.

Scholz’s Social Democrats (SPD), now in a minority government with the Greens, hammered out the compromise date with the conservative opposition Christian Democrats (CDU) and their Bavarian allies CSU.

The agreement seeks to quickly restore political stability at a time when Europe’s biggest economy is set to shrink for a second year in a row and amid heightened geopolitical volatility, with wars raging in Ukraine and the Middle East.

The election date would mean Germany will be ruled by a lame-duck chancellor and stuck in the middle of its campaign period when Donald Trump is inaugurated as US president on January 20.

Embattled Scholz, who wants to run again despite poor poll ratings, initially suggested an election in late March but came under heavy pressure from all other parties to speed up the process.

The CDU is riding high in the polls and its leader Friedrich Merz had pushed strongly for an election as early as possible — a demand backed by two thirds of voters, according to a recent survey.

“We don’t have unlimited time to elect a new government in Germany, regardless of who leads it... because the world around us is not waiting,” Merz said on Tuesday.

“It’s not as if everyone is holding their breath and watching Germany in fascination, as decisions are taken in Europe, Asia and the United States.

“The world expects a Germany that is capable of taking action.”