The German economy is experiencing a “structural crisis” rather than just temporary “weakness,” Chancellor Friedrich Merz has said, admitting that steering the country’s economy back on track has proven harder than he had anticipated.
Merz made the remarks on Saturday in a speech before members of his Christian Democratic Union party in the Lower Saxony city of Osnabrueck, the home state of major carmaker Volkswagen.
“I say this also self-critically – this task is bigger than one or the other may have imagined a year ago,” Merz stated.
We’re not just in a period of economic weakness, we are in a structural crisis of our economy.