Europe must work hard to maintain welfare system: Merkel

Europe must work hard to maintain welfare system: Merkel

FRANKFURT - Agence France-Presse
Europe must work hard to maintain welfare system: Merkel

German Federal Chancellor Angela Merkel after the European Council meeting at the European Council headquarters in Brussels, Belgium, 14 December 2012. EPA photo

Europe will have to work "very hard" to maintain its generous welfare system and remain competitive, German Chancellor Angela Merkel said in a newspaper interview Monday.
 
"If Europe today accounts for just over 7.0 percent of the world's population, produces around 25 percent of global GDP (gross domestic product) and has to finance 50 percent of global social spending, then it's obvious that it will have to work very hard to maintain its prosperity and way of life," Merkel told the Financial Times in an interview.
 
Europe will have to spend more on research and education and overhaul its tax and labour markets to restore competitiveness, she argued.

Quark.Models.Entities.Ancestor?.Title?.ToUpperInvariant() UNESCO removes Senegal park from heritage in danger list

UNESCO removes Senegal park from heritage in danger list
LATEST NEWS

  1. UNESCO removes Senegal park from heritage in danger list

    UNESCO removes Senegal park from heritage in danger list

  2. Climate activists found guilty of throwing soup on van Gogh painting

    Climate activists found guilty of throwing soup on van Gogh painting

  3. Cher’s memoire to come out in November

    Cher’s memoire to come out in November

  4. Greece's Santorini Island nears saturation point

    Greece's Santorini Island nears saturation point

  5. Michelin impact on summer resorts

    Michelin impact on summer resorts
Recommended
Blinken set for talks with Chinese foreign minister in Laos

Blinken set for talks with Chinese foreign minister in Laos
Trump slams rivals as he meets Netanyahu in Florida

Trump slams rivals as he meets Netanyahu in Florida
Colorful river parade launches Paris Olympics

Colorful river parade launches Paris Olympics
Turkish airstrikes destroy 25 PKK terror targets in northern Iraq

Turkish airstrikes destroy 25 PKK terror targets in northern Iraq
Turkish forces neutralize 15 PKK members in Iraq, Syria

Turkish forces 'neutralize' 15 PKK members in Iraq, Syria
Greece signs deal to buy F-35 jets

Greece signs deal to buy F-35 jets
Venezuela girds for uncertain election with bloodbath threat

Venezuela girds for uncertain election with 'bloodbath' threat
WORLD Blinken set for talks with Chinese foreign minister in Laos

Blinken set for talks with Chinese foreign minister in Laos

U.S. Secretary of State Antony Blinken arrived in Laos on Saturday, where he will attend a regional meeting and hold talks with his Chinese counterpart, part of a multi-nation Asia visit aimed at reinforcing regional ties in the face of an increasingly assertive Beijing.
ECONOMY Inflation rate sets maximum rent hike at 65 percent

Inflation rate sets maximum rent hike at 65 percent

As the 25 percent cap on rent hikes expired as of July 2, landlords and tenants waited for the inflation data for June because if a contract is to be renewed this month, the rent hike should be in line with the 12-month average consumer price inflation.

SPORTS Fenerbahçe wins Mourinho’s first offical game

Fenerbahçe wins Mourinho’s first offical game

Edin Dzeko showed his class as Fenerbahçe came out the 4-3 winner in a Champions League second qualifying round first leg at Swiss side Lugano on July 23 night in coach Jose Mourinho’s first official game in charge.