German Chancellor Friedrich Merz has admitted that resolving the nation’s economic difficulties is more complex than previously expected. Speaking in Osnabrueck, a city in northern Germany, Merz reflected critically on the scale of the task ahead, noting that the economic strain goes beyond a temporary downturn.
“This challenge is larger than some of us might have thought a year ago,” Merz stated during his address on Saturday. He emphasized that Germany is not merely experiencing a cyclical slowdown but facing a structural transformation within its industrial and innovation sectors. The remarks underscore growing concern among policymakers about long-term competitiveness, energy costs, and regulatory burdens affecting domestic production.
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Merz Says Tackling Germany’s Economic Woes Tougher Than Expected
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world n nConnecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world n nGerman Chancellor Friedrich Merz said tackling the country’s economic challenges is proving to be a far greater undertaking than he initially anticipated. n n“I say this also self-critically — this task is bigger than one or the other may have imagined a year ago,” Merz said in a speech in the northern German town of Osnabrueck on Saturday. “We’re not just in a period of economic weakness, we are in a structural crisis of our economy.”