The summer debate in Germany's domestic political scene focused on the financing of the German social security system and the retirement age. Following the lead of some economists, the country's economy minister Katherina Reiche, of the conservative CDU party, opened the debate by raising the possibility of upping the retirement age.
While German finance minister Lars Klingbeil, of the social democratic SPD party, is struggling to plug a €20-€30-billion-hole, economy minister Katherina Reiche sparked controversy this summer by stating that demographic change and increased life expectancy make it inevitable that people will have to work longer. “It is not good in the long term for us to work only two-thirds of our adult lives and spend one-third in retirement,” she said. Some economists are currently proposing to raise...
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Article authors
Thomas Schnee
Freelance