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The former Federal Finance Minister, known for his clear-cut and provocative standpoints, analyses the current economic and social political situation. One conclusion: the social state is in serious danger. How can it be rescued? The answer: through reinventing politics. The rising pressure of competition worldwide is fundamentally threatening growth. Exchequers are suffering a downturn and public debt is escalating. The international financial markets are in freefall. Does this situation threaten the end of the welfare state? If there is less to distribute, what is the result for the stability of communities and their democratic capital? What will the consequences be if no-one believes any more in the promise for the future that “things should be better for my children“ and simultaneously society’s centrifugal forces are speeding up. Does this situation threaten the end of the social state? Economies, politics and the media suppress the dangers. We are coming to the crunch.
About the author:
Peer Steinbrück, born in Hamburg in 1947, is an economics graduate and a member of the German Federal Parliament. Before being Federal Minister of Finance and deputy chairman of the SPD from 2005 to 2009, he held a number of posts, including business manager for Johannes Rau, Premier of Nordrhein-Westfalen, and Secretary of State, then Trade Minister of Schleswig Holstein. In Nordrhein-Westfalen he was Trade Minister from 1998 to 2000, Finance Minister from 2000 to 2002, Member of the Regional Parliament from 2000 to 2005 and Premier from 2002 to 2005. |
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