Costas Argyros comments

Last Wednesday night in the central newsletter of German public television, the financial author from Frankfurt referred to the proposal they have made (completely seriously!) Employer representatives, as well as some economists to abolish one of the many days of holiday which exceeds 4.5 trillion. euro.

This idea, no matter how correct or not the relative calculation is, is representative of the current situation in the country. Germany remains stuck in recession, forecasts for the growth indicators of the economy over the next two years are not so encouraging, the threatening news bombardment continues. Audi, Siemens, Deutsche Bank was-only this week-three more companies-symbols that announced staff cuts for the coming years.

Looking for the ‘magic recipe’

So Germany looks like a wounded giant that has begun to get rid of the endless blows and everyone has the comfort of suggesting “his head”, believing that a “crazy plan” can prove to be “the magic recipe” that will make him stand up again. At the same time, citizens are bombarded with information and references to the threats of the future and the need to “prepare for war, to prevent war”, to the extent that you often have the feeling that you will fall out of your house.

And as if all this was not enough, the phobias about the work, the ominous forecasts and the thoughts of converting the economy into a war, are also strengthened by the voices of the “allies” who daily ask Germany more, with the ambitious neighbor Emmanuel Macron. Can the next government cope with all these challenges, meet the expectations of the partners in Brussels and the Germans’ hopes for something new?

Surpassing themselves

Friedrich Mertz, who is almost certain to be the next chancellor of the country, should feel about as a hero of mythology who is called upon to lift the globe on his shoulders. It is tirelessly promising that his country will “return to Europe” and “will do whatever it takes” to accelerate a slow -moving and outdated economy.

There are not many who believe to have the abilities, but also popular support to do so. Unless he goes beyond the boundaries of himself, if a predictable fan of neoliberalism, who in 2008 published a book with the simplistic recipe of the time “Let us dare more capitalism”, now dares to shake off all these obsessions and doctrines. If, in simple words, he dares the unpredictable.

Changing his attitude to the issue of “debt brake” simply confirms that conditions do not give him luxury to be predictable. But that was just the beginning. A statement of submission to reality. Whether he has the background to move “out of the box” without stumbling will look very quickly. Developments are running at rhythms that leave no room for postponements and delays.