The CEO of Mercedes-Benz, Ola Källenius, has issued a stark warning regarding Germany’s economic direction, stating that years of stagnation are fueling an increasingly right-wing political orientation.
In an interview with Der Spiegel magazine, cited by DPA, Källenius said that Europe’s largest economy is „heading in the wrong direction by about 10 to 15 years.”
According to him, the lack of a change in direction will have serious political consequences. "If this doesn't change, then right-wing populists will come, and they have no solutions for anything," warned the head of Mercedes-Benz.
High Costs and Decreasing Productivity
Ola Källenius attributed a large part of Germany's economic problems to a declining work ethic and compared the country's current competitiveness to that of a struggling national football team.
The head of Mercedes-Benz emphasized that Germany currently faces some of the highest labor costs globally. While these were previously offset by higher productivity, this advantage has eroded, Källenius said.
In the interview, Ola Källenius also delved into the current political debate in Germany regarding the possible elimination of the legal right to part-time work.
While defending this right in situations such as "raising children or caring for individuals," the CEO of Mercedes-Benz emphasized that, in general, the population needs to work more hours.
Otherwise, he warned, "our unique productivity engine will slow down even further."
B.B.