Europe must work hard to maintain welfare system: Germany’s Merkel

By Agence France-Presse
Monday, December 17, 2012 3:25 EDT
google plus icon
Merkel at May 11 campaign meeting via AFP
  • Print Friendly and PDF
  • Email this page

Europe will have to work “very hard” to maintain its generous welfare system and remain competitive, German Chancellor Angela Merkel said in a newspaper interview Monday.

“If Europe today accounts for just over 7.0 percent of the world’s population, produces around 25 percent of global GDP (gross domestic product) and has to finance 50 percent of global social spending, then it’s obvious that it will have to work very hard to maintain its prosperity and way of life,” Merkel told the Financial Times in an interview.

Europe will have to spend more on research and education and overhaul its tax and labour markets to restore competitiveness, she argued.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
By commenting, you agree to our terms of service
and to abide by our commenting policy.