Industry warns – economic house of cards can collapse – Reuters Germany

Hannover The German industry fears the disappearance of an environment favorable as lower oil prices and interest rates a slump.

“If these external factors are not effective, may coincide our economy-house of cards”, the President of the Federal Association of German Industry, Ulrich Grillo said , on Monday at the Hanover Fair. The government, he accused of neglecting the economic policy: “The federal government has failed in recent years to make Germany weatherproof.” Instead, they have met “nonsensical decisions” in the pension, social, energy and climate policy.

Given increasing risks for exporters holds the BDI lower economic growth than previously thought possible. The gross domestic product will grow this year by 1.5 to two percent. So far, the BDI had gone out of nearly two percent. “German industry feels the more conflicts, risks and growth weaknesses violent than other economies,” Grillo said. Germany was enormous challenges. “The need for investment in infrastructure is enormous: in roads, railways and bridges, in our energy networks and digital networks.”

for the target of a nationwide fast one-gigabit fiber optic network by 2025 the industry president urged more public funds as lead investment for private involvement. “The scheduled ten billion euros in subsidies are not enough,” he said.