Ifo boss Foyst wants to consider return to nuclear power to 'secure prosperity'

While Chancellor Olaf Scholz invites people to the economic summit, Ifo President Clemens Fuest offers concrete proposals in a “newspaper” interview to pull the weak German economy out of recession.

A fire on the roof of a house in Germany. The highly regarded German engineering skills, which ensured the prosperity of Europe's largest economy for many decades, are no longer in demand as they once were. Even international companies such as Volkswagen or steel giant Thyssenkrupp have faltered recently – and there are fears that tens of thousands of jobs will be lost.

Just a few weeks ago, major German economic institutes turned the site's long-standing loss of relevance into numbers: the German economy will not emerge from recession in 2024 either, according to their economic forecasts. This is the second year in a row that the German economy has contracted.

Schultz wants an artificial summit

Germany's traffic light government appears to be overwhelmed by economic policy challenges. The ideological ideas are too different to pull the economic wagon out of economic recession. Green Economy Minister Robert Habeck wants to stimulate the economy through green investments, and FDP Finance Minister Christian Lindner does not want to put any additional pressure on the state budget. What about Social Democratic Party Chancellor Olaf Schulz? First and foremost, he is struggling to find a consistent line within his party. The accusation of impaired driving is not a coincidence.