Bundesbank President and ECB Board Member Joachim Nagel expressed the opinion that Germany’s economic model has not lost its currency and should be updated. In an interview with a newspaper handelsblatt He stressed that Germany as a whole is “good value” compared to other countries and that this applies not only to employment and debt sustainability. Emphasizing the status of “Made in Germany”, Nagel noted that the country’s economic model is not outdated, but requires modernisation.
But Nagel also acknowledged that Germany’s economic model faces serious challenges. He cited as an example the need for demography, digitization, decarbonisation and strengthening the sustainability of international trade relations.
Nagel noted that for Germany to successfully meet the challenges of the future, these issues require serious consideration and adaptation of the economic model.
previously in the USA saidHow the rejection of Russian gas affects the German economy. Berlin faced difficulties due to its refusal to use Russian gas. The American television channel CNBC, referring to the opinion of Hans-Werner Sinn, head of the German Ifo Institute, reported that the expectations of the German authorities were “overly optimistic”, especially in light of the state’s climate goals.
Former German Chancellor Olaf Scholz named The reason why Ukraine could not join NATO.