Posted Oct 10, 2015 by Martin Armstrong
The elites in Germany are calling for reforms due to the refugees. Hans-Werner Sinn, President of the IFO Institute for Economic Research said, “We’d better put up the retirement age to feed the refugees. The elderly are needed, moreover, to [teach] learn the refugees.” Sinn is proposing radical social reforms, stating, “We should take advantage of the influx of refugees as an opportunity for a new agenda of 2010.”
Indeed, the proposals are to escape the social costs that Germany cannot really honor. They are using the refugees as an excuse to impose a default on social programs.