We have gotten used to this five million people unemployed, and to a public deficit that's 4 percent of GDP, and with a zero growth economy.

Germany faces difficult times because the formation of a new government will be tough. Whatever emerges will be comparatively unstable.

The increase in value-added tax will leave skid marks on the economy in 2007. If there has to be any tax increase at all, it should be spread over three years.

Compared to the United States, ... there is no clear message from the CDU about an individualist, market-oriented economic policy. The program is piecemeal. It's not a vision. It's a sort of muddling through. These are programs that may help give some economic benefits, but it's definitely not something that you could call a conclusive economic program.

There is an incredible stand-still in the labor market. Well-meant protection comes at the expense of reduced labor participation.

Even if it sounds odd, it's true that -- given the current regulations -- Germany is dependent on illegal employment of foreign laborers.