The “historic turn” Chancellor Olaf Scholz described in 2022 is ongoing—and far more encompassing and consequential than many in Europe continue to assume. Donald Trump’s re-election as US president requires a fundamental rethink.

Elon Musk has been trolling Germany’s parliamentary election campaign during the holidays. His AI-supported interventions are unlikely to have much effect, but they remind the country that it needs new ideas—which so far are lacking.

The break-up of Chancellor Olaf Scholz’ coalition government was expected, but is still taking place at an extremely critical time. Its successor will have to set clearer priorities—and find greater fiscal space.

The pro-business Free Democrats are likely to leave the government early. It may be party leader—and finance minister—Christian Lindner’s last consequential mistake for a while.