While the media in Germany report almost daily that the necessary reforms aren’t moving ahead quickly enough, a change is taking place which is unique in the history of the Federal Republic of Germany.

For the first time in fifty years, German businesses are able to extend hours of work with the consensus of the people in the country; shorten wage and salary disbursements and reduce employee fringe benefits. And all of this is taking place with the approval of the people. A study done by the research institute Emnid in September 2004 shows, that 61% of population are convinced that it is necessary for the preservation of the ability to compete to cut back. Should we not pause for a moment given such insights and show respect to Germans? I think we should. Particularly, since people have to listen daily to the accusations, that they are greedy, selfish, lazy and irresponsible towards society and that they care only about their own advantages.

What is going on in Germany right now disproves all those who say one could not turn back the clocks. One can. And we should make note of this gratefully. The non-violent reunification of both German states in 1989 was already a miracle; and what is going on now is another miracle. Wage sacrifice and working longer hours in the short and medium term bring about a reduction of consumption. I am sure the people know that and they accept it in order to bring Germany economically back to the front. The latter will benefit all the people.

Which consequences do we, those of us bearing the responsibility for the economy, draw?

• We have to cut back the growth schedules in the consumer goods markets to a realistic extent.
• We have to stop trying to force growth through the kind of competition which only costs money and does not amount to anything.
• We have to dare to put quality in front of quantity and to pass on such stupid sayings such as “Geiz ist geil” (greed is groovy).

Wage sacrifice and the willingness to work longer hours means reduction of consumption. Industry and retail should adjust to that since what serves the people will in the long run also serve the economy.