Germany will elect a new government seven months ahead of schedule after President Frank-Walter Steinmeier dissolved parliament and called for snap elections on Friday.

German President Frank-Walter Steinmeier on Friday ordered parliament dissolved and set new elections for Feb. 23 in the wake of the collapse of Chancellor Olaf Scholz's coalition, saying it was the only way to give the country a stable government capable of tackling its problems.

The new elections would allow for Olaf Scholz's party to have a chance to take power or allow a new majority government to rule.