The state bank KfW sees Germany on the verge of an economic turning point that does not bode well: declining prosperity and new distribution conflicts.
The reason for this is the lack of skilled workers, which is already making life difficult for companies and, according to the state bank, will become a problem of historic proportions for Germany in the coming decade.
Others have already made this diagnosis and one wonders how many such alarm calls it will take for politicians to set all possible adjustment screws in motion to cushion the demographic change on the labor market.
Beginnings have been made, for example with the immigration of skilled workers.
What is missing, however, is the "wum" with which the federal government gives top priority to securing prosperity.
Above all, the traffic light does not dare to approach a real pension reform – including a higher entry age.
Because the truth hurts: it takes sacrifices if the country is not to become poorer economically.
Even higher, however, are the costs of half-hearted reforms.