Europe, the Euro and German Demographic Renewal

Carl Christian von Weizsäcker () and Hagen Krämer
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Carl Christian von Weizsäcker: Max Planck Institute for Research on Collective Goods

Chapter Chapter 11 in Saving and Investment in the Twenty-First Century, 2021, pp 275-291 from Springer

Abstract: Abstract Access to the domestic market is nowadays the trump card of trade diplomacy. The larger the domestic market, the more effective it is. The euroEuro is thus the decisive pillar of the European single marketSingle market. The German debt brakeDebt brake is incompatible with the long-term stability of the euroEuro. For as long as it applies, full employment can never be achieved in the eurozoneEurozone as a whole. Under currentPolicy, fiscal fiscal policyFiscal policy, full employment would require unrealistically high export surpluses. A euroEuro doomed to underemploymentUnderemployment will collapse. Hence, the international fiscal order must also be applied among the nation states in the euroEuro area. Germany’sGermany resulting obligations offer an opportunity for a German demographic renewal by aggressively encouraging the immigration of skilled workers.

Date: 2021
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DOI: 10.1007/978-3-030-75031-2_11

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