Bundesbank chief demands: "We must work longer" - Bundesbank Warns: Germany, Europe Risk Falling Behind Due to Shorter Working Hours
Bundesbank President Joachim Nagel has warned of Germany and Europe falling behind if they fail to tackle the challenges of an aging society. He has called for an increase in the working lifespan, citing competitors like Spain, Italy, and France that have longer working hours.
Nagel expressed optimism about Germany's economic growth in the coming year, with the federal government forecasting a growth of 1.3% in 2026. However, he also highlighted the risk of Germany and Europe being disadvantaged due to shorter working hours compared to some of its European counterparts. Nagel named Spain, Italy, and France as countries with longer working hours, suggesting that these nations could potentially outpace Germany and Europe economically if the issue is not addressed.
Bundesbank President Joachim Nagel has emphasized the need to extend the working lifespan in Germany and Europe to keep up with economic competitors. Despite his optimism about Germany's economic growth, he has sounded the alarm on the potential disadvantages of shorter working hours in the European countries.
