Czech lawmakers agreed to shorten their term in office and initiate an early election. The election will end months of political turmoil that has crippled policymaking since the centre-right government of Prime Minister Petr Necas collapsed in June.The motion to cut parliament’s tenure, a condition for calling the snap ballot, was backed by 140 deputies in the 200- seat assembly in Prague with seven against. President Milos Zeman, who must formally dissolve the chamber, has said he’ll schedule the vote for Oct. 25-26 after approval of the motion. Source: Reuters, Bloomberg