Germany is set to hold snap elections on February 23 after an agreement was reached among parties in the country’s fractured parliament on Tuesday, according to reports from public broadcaster ARD.

German Chancellor Olaf Scholz said on Wednesday he would call a confidence vote on January 15, which could pave the way for a snap federal election in March.

German opposition leader Friedrich Merz has welcomed his party's agreement with Chancellor Olaf Scholz's coalition government to hold early elections in February. "February 23 is a good solution," Merz said in Berlin on Tuesday after a meeting with lawmakers from his Christian Democratic Union (CDU) and its Bavarian sister party,

Germany is set to hold a snap election on February 23 after an agreement was reached among parties in the country’s fractured parliament on Tuesday.

Germany is set to hold snap elections on Feb. 23 after the collapse of Chancellor Olaf Scholz's governing coalition, but officials on Tuesday warned it would leave the 2025 budget and several other policy initiatives in limbo.

Germany’s biggest political parties are said to have agreed on a timetable leading to an early general election on Feb 23.

Speaking in the Bundestag, Chancellor Olaf Scholz asked the opposition for help to pass several items of legislation before the February election, but the conservative CDU is reluctant.

Germany is set to hold fresh elections on February 23, eleven weeks after the collapse of Chancellor Olaf Scholz's governing coalition, with sources on Tuesday saying the Social Democrats, Greens and conservatives had reached a compromise on timing.