German big business calls for early vote, economic vision [Video]

German big business groups demanded almost in unison Thursday that embattled Chancellor Olaf Scholz call elections soon to restore political stability in Europe’s stuttering top economy.

Already hit by high energy prices, stiff Chinese competition in key sectors and slow growth at home, companies and industry lobbies were further alarmed by the political turmoil in Berlin.

Hours after the world learnt that Donald Trump, a strong proponent of tariffs, is headed back to the White House, German Chancellor Olaf Scholz’s ruling coalition imploded.

“As if an already dramatic day for the global economy needed any more excitement, Germany has delivered a significant political upset of its own,” wrote Carsten Brzeski, economist at ING.

The centre-left Scholz said he aimed to hold on in a minority government until snap elections likely in March, but industry associations charged that this is far too late.

The industry federation BDI and the automakers’ group …