Reform At Last?
It was a most German way of fomenting revolution. At private meetings and industrial powwows earlier this year, Germany's top industrialists repeated their refrain. Battered by the world's highest labor costs, toughest work rules, and most punishing social taxes, many had decided they couldn't invest another pfennig profitably in the homeland. The time had come for a rethinking of Germany's economic rules. Individually and in groups, they met with Chancellor Helmut Kohl at the steel-and-glass chancellery in Bonn. Their message: Germany's social contract wasn't working, and they were ready to abandon it.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
- Germans Are Going Wild for a Show Set During the Dawn of the Nazis
- Greenwich Mansion Listings Pulled to Wait for a Better Day
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself
- U.S. Stocks Climb With Treasuries as Dollar Slides: Markets Wrap