Greece has in the coming years an enormous capital needs. The sum of maturing bonds and interest payments on outstanding debt will total about 274 billion euros in 2015. With regard to so-called rescue package for Greece on Friday will not be reached agreement. Why? Because we fundamentally with this kind of assistance violated the market economy in Germany.
An important principle of the social market economy is that the one who takes risks must be in doubt for them. In addition, who bought Greek bonds in this case, which the taxpayer may now not box out. The agreements between Greece and the euro area and the IMF will not contribute to the Hellenic Republic to solve the main problem. The cause of the crisis lies in the high level of debt. With the proposed bailout of Greece’s debt is expected to rise in 2014. The issue of public debt is not smaller but larger. The euro remains stable only sustainable if everyone adheres to this principle.
Fewer engineers, less wealth
For years, labor market experts had pointed out that Germany was threatening the future skills shortages. The bitter reality is that in 2009 were missing more than 34,000 engineers. The mean value losses are around EUR 3.4 billion, as a recently published study of the German Engineers Association and the Institute of the German Economy in Cologne shows.
Reason for this development is primarily the demographic change. Foreign students after graduation, the German labor market were not available Overall, this is still not enough time to compensate for the 36,000 retirees, let alone to meet the expansion needs additionally present.
In addition, future demand for skilled professionals will continue to increase dramatically. From 2013 annual 33,800, then 44,100 in 2018 and finally from 2023 even needed 48,300 new engineers to replace the retiring. Without significant efforts of schools and universities, from industry and government will not succeed.
A massive loss of prosperity would result. Of course, there are other opinions on this issue. For example, that the so-called “shortage of engineers” is actually a lack of willingness of employers to pay fair market salaries.