Wolfgang Franz Discusses Current Economic Policy with Students

A group of 14 students from the Bergstraße Gymnasium in Hemsbach and their teacher visited the Centre for European Economic Research (ZEW) in Mannheim on April 28, 2014, where they discussed current economic policy topics with former ZEW President Professor Wolfgang Franz.

Professor Franz first gave an overview of the current economic situation in Europe, highlighting aspects like the risk of deflation and the consequences of youth unemployment. Moreover, he explained the tasks of the German Council of Economic Experts, the head of which he had been until February 2013. The students were interested in the government’s adherence to the recommendations given by the economic experts. The former ZEW President’s answer included a mixed balance: True to the saying “Constant dripping wears away the stone”, the German Council of Economic Experts has to repeat its suggestions and positions again and again to make progress in convincing political decision-makers, said Franz. He referred to the comprehensive Hartz reforms on the German labour market as an example of successful policy advice. Following his lecture, the students had the opportunity to discuss current economic policy topics with Professor Franz. They asked questions concerning the minimum wage, the “mothers’ pension” (pension benefits to all retirement-age women who gave birth before 1992), and the turnaround in energy policy.