Reform backlog
Bundesbank President: Finally need pace in reforms
Pension, infrastructure, defense – Germany has a need to catch up in many places. There is agreement in the analysis. But the solution to the problems runs there.
Bundesbank President Joachim Nagel warns at speed in reforms in Germany and Europe. “We have to get out of the analysis from the Vivendi mode,” Nagel demanded at a Bundesbank conference in Frankfurt. “We have to come to the doing. We have to get much, much faster in the implementation, we are too weak in the implementation.” That applies to Germany as well as for Europe.
“Something has to happen,” emphasized Nagel. Both the capital markets and the energy markets in Europe are still far too fragmented. “You notice: I’m slowly becoming impatient on the topic,” said the Bundesbank President. It is about putting the heads together, closing closer together, also in Europe. The answer to the current challenges could be no less Europe, “the answer is more Europe to set us more powerful,” said Nagel.
Allianz boss: ending with promises that you cannot adhere to
The CEO of the Insurance Group Allianz, Oliver Bäte, appealed to the federal government to implement planned projects. For example, a clear plan has so far been missing how the huge sums of private capital should be used for investments in the infrastructure.
Bäte warned: The state could not spend more money on permanently than it takes. “I hope that the conservatives have now understood that election voices are constantly buying promises that cannot be observed, at least for the end. Now we have to convince social democracy,” said the alliance boss.
dpa
Source: Stern
