"Economist Professor Hans-Werner Sinn issues alarm: "Rejection is at its peak!" "
German Economist Warns of Potential Collapse in a Decade
In an interview with BÖRSE ONLINE, renowned economist Professor Hans-Werner Sinn voiced concerns about the stability of Germany's economic system. He believes it could collapse within the next ten years if immediate action is not taken.
BÖRSE ONLINE asked whether Germany had already reached an economically critical point, to which Professor Sinn responded in the negative, indicating that there is still a window of opportunity for change.
Skeptical about the Possibility of Change
Sinn mentioned that his skepticism stems from the lack of economic understanding among the general population. He contrasted this with the Anglo-Saxon world, where basic economic knowledge is more institutionally integrated. Economic concepts remain a marginal topic, particularly within the intellectual German media landscape.
The economist diagnosed the country's crisis as structural rather than cyclical, with destruction outpacing creation. Analyzing economic development since 2018, he observed an ongoing downward trend due to hesitation in investments. This hesitation, according to Sinn, is largely the result of political decisions, particularly in energy policy. A country moving towards energy self-sufficiency faces uncertain economic prospects, as entrepreneurs opt to invest in other regions.
Immediate Steps for a New Government
When discussing the upcoming federal elections, Sinn outlined three key steps a new government should undertake:
- Significantly reconsider the policy of restricting demand for fossil fuels until other major nations follow suit. The European Union's exit decisions concerning coal, oil, and gas were cited as examples of such policies.
- Activate the labor reserve by encouraging appropriately skilled individuals to enter or re-enter the workforce.
Professor Sinn's Full Interview is Available Here
- Professor Sinn's concerns about potential economic collapse in Germany within the next decade are rooted in the lack of economic understanding among the general population, which he compares unfavorably to the Anglo-Saxon world.
- Citing an ongoing downward trend in economic development since 2018, Professor Sinn attributes this hesitation in investments to political decisions, particularly in energy policy and the move towards energy self-sufficiency.
- In the context of the upcoming federal elections, Professor Sinn suggests that a new government should reconsider the policy of restricting demand for fossil fuels, encouraging appropriate skilled individuals to enter or re-enter the workforce.
- The full interview of Professor Hans-Werner Sinn, expressing his concerns about the stability of Germany's economic system and outlining his suggestions for political action, is available on BÖRSE ONLINE.
