New economic wise man: Martin Werding calls for social reform

Economist Martin Werding

“I want to be part of a council of experts that sets up guidelines for politics and defines a range of sensible options for action.”

(Photo: imago images/Jürgen Heinrich)

Berlin The Economic Wise Men are again five members and thus complete. The federal government called the Bochum economist Martin Werding and the economist Ulrike Malmendier from Berkeley to the “Council of Experts for the Assessment of Overall Economic Development” in its cabinet meeting on Wednesday.

The Handelsblatt reported exclusively on the two personal details last Friday. Germany’s most important economic advisory body had previously been understaffed for a year and a half.

Werding and Malmendier are now speaking for the first time in their new offices and explain their plans and perspectives in interviews with the Handelsblatt. Werding was appointed in particular because of his expertise in the field of social systems.

He believes that something needs to be done there as soon as possible. “The federal government urgently needs to initiate fundamental reforms of the social security systems,” he demands.

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