From the UK Telegraph:



Chancellor Gerhard Schröder implored sceptics in his Social Democratic Party yesterday to rally behind his efforts to modernise the ailing economy . Many in his centre-Left party are angry at reforms they see as undermining its 140-year history of protecting the weak. But Mr Schröder insisted…that Germany risked a “fatal error” if it kept on raising contributions to pay for a welfare state hit by a lack of economic growth and an ageing population. “Our reforms are necessary and right,” said the German leader. “We’re trying to ensure that people can get work and lead lives worth living rather than relying on handouts….” [11/18/2003]

Voice of Capitalism

Capitalism news delivered every Monday to your email inbox.

You have Successfully Subscribed!

Pin It on Pinterest