2023-08-01 21:01:46
Construction site in Hanover: The proliferation of regulations is keeping housing companies from building, among other things. Image: dpa
Whether it’s the heating law or the four-day week – the debates of the past few months have been those of a country that believes it can afford anything. This is not the only reason why we now need the courage to dare a major economic reform.
The sick man of Europe is back. In Germany less is invested, produced and consumed. Almost every day, new figures are added to this dreary picture like pieces in a mosaic. The gross domestic product is stagnating, the green economic miracle promised by Chancellor Scholz is not even remotely visible.
Stagnation is better than a recession. But all other major economies are growing again after the Corona and Ukraine shock. Germany falls behind and thus also pulls down the outlook for the EU. According to a Brussels think tank, in 2035 the prosperity gap between an average American and an average European could be as great as that between Europeans and Indians today.
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