Germans might have to bid farewell to some cherished vacations, as economist Guntram Wolff suggests curtailing two public holidays to fund climate and defense costs. The holidays under the chopping block remain unknown, but Wolff suggests considering Easter Monday as a possibility due to Good Friday remaining a holiday.
In the political discourse, different approaches to bridge a "structural gap" between 15 to 30 billion euros are being proposed. Wolff's solution is to increase working hours to finance both defense expenditures and climate protection, while stimulating economic activity.
His assertion is that by canceling two public holidays, the labor supply would rise by nearly one percent. Furthermore, the estimated increase in Germany's GDP could reach 0.5 percent, according to Wolff. He encourages the "Traffic Light" party to explore this option alongside cost-cutting and tax hikes, as part of their search for a political compromise. At present, no definitive decision has been reached.
Dropping these beloved holidays will reduce the number of annual holidays and potentially affect people's mood, especially if their favorite vacation is eliminated.
This idea of sacrifice in the name of economic growth and national objectives has various perspectives. Critics may argue against the desirability of eliminating holidays to promote economic activity, while supporters might emphasize the necessity to balance budget shortfalls and promote growth.
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