Posted 1/19/2024, 2:36:00 PM
Germany Admits Loss of Economic Competitiveness; Finance Minister Calls for Reforms to Address Tired Man of Europe Status
- Germany has become the "tired man of Europe" due to years of crisis eroding its competitiveness, admits Finance Minister Christian Lindner
- Germany was once considered the "sick man of Europe" but early 2000s reforms unleashed growth; now more reforms needed
- Pandemic and Ukraine war challenged Germany's economic model based on cheap Russian energy and China exports
- Lindner advocating reforms to boost productivity - labor market, tech, less red tape, lower corporate taxes
- To prepare for possible Trump re-election, Lindner says Europe must boost defense spending and become more competitive economically