""The situation of German industry is very critical in some branches," Merz warned in the letter. "Industry giants as well as considerable numbers of mid-sized and small businesses are facing major challenges, in many companies jobs are being lost." The warning follows a year punctuated by stagnant economic growth, major job losses in key industries like carmaking, and bankruptcy rates unseen in Germany in years."
"Merz wrote that as a result of this, the coalition will "have to concentrate on making the right political and legal decisions to drastically improve the economic conditions." Merz wrote that it had become clear that productivity in Germany was "no longer good enough" amid "changed global economic conditions." "Labor costs, energy costs, bureaucratic hurdles and tax burdens are all too high," he said. "We will need to work on this together.""
German industry is critical in some branches, with industry giants and many mid-sized and small businesses facing major challenges and job losses. The year featured stagnant economic growth, significant job losses in key sectors such as carmaking, and bankruptcy rates not seen in years. Productivity is considered no longer sufficient amid changed global economic conditions. Labor costs, energy costs, bureaucratic hurdles and tax burdens are all assessed as too high. The coalition must focus on making political and legal decisions to drastically improve economic conditions and coordinate on necessary reforms despite differing priorities.
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