The German social market economy is based on competitiveness, free trade and social progress. The interplay between entrepreneurial forces, trade unions and employer associations creates social balance. The German model, made popular in the post-war era, guarantees that Germany enjoys a high degree of social harmony, even in economically difficult times. Despite being affected by the global banking and economic crises, as well as the “Eurocrisis”, Germany has proven much more economically resilient and less vulnerable, compared to other EU member states.
Michael Theurer MEP (ALDE), Chair, Committee on Budgetary Control and Vice-Chair of the FDP delegation in the European Parliament and Prof. Karl-Heinz Paqué, Former State Minister of Saxony Anhalt and Dean, Faculty of Economics and Management, Otto von Guericke University will talk about what makes the German model so successful. What are its key features that have allowed it to stabilize comparatively quickly? Can it serve as a blueprint for other EU member states?
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